Seaport Res Ptn Brokers Decrease Earnings Estimates for MLM

Martin Marietta Materials, Inc. (NYSE:MLM) – Research analysts at Seaport Res Ptn lowered their Q3 2024 EPS estimates for shares of Martin Marietta Materials in a research report issued to clients and investors on Monday, October 28th. Seaport Res Ptn analyst R. Seth now expects that the construction company will earn $6.07 per share for the quarter, down from their previous estimate of $7.48. The consensus estimate for Martin Marietta Materials’ current full-year earnings is $19.07 per share. Seaport Res Ptn also issued estimates for Martin Marietta Materials’ Q4 2024 earnings at $4.93 EPS, Q1 2025 earnings at $2.31 EPS, Q2 2025 earnings at $5.91 EPS, Q3 2025 earnings at $7.48 EPS, FY2025 earnings at $20.99 EPS and FY2026 earnings at $24.14 EPS.

Several other research firms also recently commented on MLM. Morgan Stanley raised their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Barclays raised their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research report on Tuesday. Stifel Nicolaus lowered their price target on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Truist Financial reduced their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Citigroup lowered their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $621.50.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $604.71 on Wednesday. Martin Marietta Materials has a 52 week low of $404.93 and a 52 week high of $626.67. The company has a market capitalization of $36.96 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 4.62 and a beta of 0.91. The stock’s fifty day moving average is $538.61 and its two-hundred day moving average is $555.78. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the company posted $5.60 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year.

Institutional Trading of Martin Marietta Materials

A number of institutional investors have recently modified their holdings of MLM. BNP Paribas Financial Markets lifted its position in Martin Marietta Materials by 182.5% during the first quarter. BNP Paribas Financial Markets now owns 73,135 shares of the construction company’s stock valued at $44,901,000 after acquiring an additional 47,250 shares during the last quarter. Peak Financial Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the 2nd quarter valued at $2,710,000. TD Asset Management Inc boosted its position in shares of Martin Marietta Materials by 4.4% in the 1st quarter. TD Asset Management Inc now owns 147,963 shares of the construction company’s stock worth $90,840,000 after purchasing an additional 6,263 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Martin Marietta Materials by 8.1% during the 1st quarter. Russell Investments Group Ltd. now owns 74,259 shares of the construction company’s stock worth $45,545,000 after buying an additional 5,576 shares during the last quarter. Finally, M&G Plc acquired a new position in Martin Marietta Materials during the 1st quarter valued at about $41,142,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $0.79 dividend. The ex-dividend date was Tuesday, September 3rd. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 dividend on an annualized basis and a yield of 0.52%. Martin Marietta Materials’s payout ratio is currently 9.60%.

About Martin Marietta Materials

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.