Martin Marietta Materials, Inc. (NYSE:MLM) Shares Set to Pay Quarterly Dividend of $0.84

Martin Marietta Materials, Inc. (NYSE:MLM) announced a quarterly dividend on Thursday, November 12th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.84 per share by the construction company on Thursday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, December 1st.

Martin Marietta Materials has increased its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 9 years. Martin Marietta Materials has a dividend payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Martin Marietta Materials to earn $18.72 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 17.9%.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $517.80 on Friday. Martin Marietta Materials has a 12 month low of $464.92 and a 12 month high of $710.97. The firm has a fifty day simple moving average of $503.56 and a 200 day simple moving average of $570.95. The stock has a market capitalization of $36.83 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 2.89 and a beta of 1.02. The company has a current ratio of 1.63, a quick ratio of 0.91 and a debt-to-equity ratio of 0.69.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, November 4th. The construction company reported $5.47 earnings per share for the quarter, missing analysts’ consensus estimates of $5.99 by ($0.52). Martin Marietta Materials had a net margin of 31.88% and a return on equity of 7.96%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the business posted $6.85 EPS. The firm’s revenue for the quarter was up 28.3% on a year-over-year basis. Research analysts forecast that Martin Marietta Materials will post 15.30 EPS for the current fiscal year.

About Martin Marietta Materials

Martin Marietta Materials, Inc. is a U.S.-based supplier of building materials used in construction and infrastructure projects. Its products include crushed stone, sand and gravel, cement, ready-mixed concrete and asphalt. The company also produces specialty products through its magnesia-based business, including lime, chemicals and products used in industrial and environmental applications. Its construction materials operations serve markets across the United States. Martin Marietta traces its roots to 1939 and has grown through acquisitions and expansion of its materials operations.