Martin Marietta Materials, Inc. (NYSE:MLM) Declares Dividend Increase – $0.84 Per Share

Martin Marietta Materials, Inc. (NYSE:MLM) declared a quarterly dividend on Thursday, August 13th. Shareholders of record on Tuesday, September 1st will be given a dividend of 0.84 per share by the construction company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 1st. This is a 1.2% increase from Martin Marietta Materials’s previous quarterly dividend of $0.83.

Martin Marietta Materials has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 9 consecutive years. Martin Marietta Materials has a dividend payout ratio of 15.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Martin Marietta Materials to earn $21.66 per share next year, which means the company should continue to be able to cover its $3.32 annual dividend with an expected future payout ratio of 15.3%.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $545.83 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73. Martin Marietta Materials has a 1 year low of $523.48 and a 1 year high of $710.97. The firm has a fifty day moving average price of $573.43 and a 200-day moving average price of $600.54. The stock has a market cap of $32.79 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 2.33 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, topping the consensus estimate of $4.76 by $0.24. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. Martin Marietta Materials’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.43 EPS. Equities analysts anticipate that Martin Marietta Materials will post 19.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Martin Marietta Materials

Institutional investors have recently modified their holdings of the stock. Optima Capital LLC bought a new position in shares of Martin Marietta Materials during the 4th quarter valued at approximately $25,000. Meeder Asset Management Inc. boosted its stake in Martin Marietta Materials by 67.9% during the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after buying an additional 19 shares during the period. CoreCap Advisors LLC increased its position in Martin Marietta Materials by 370.0% during the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock valued at $27,000 after acquiring an additional 37 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Martin Marietta Materials in the fourth quarter valued at $31,000. Finally, Reflection Asset Management bought a new stake in shares of Martin Marietta Materials in the 4th quarter worth about $35,000. 95.04% of the stock is owned by institutional investors.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.