Zacks Research Issues Negative Outlook for MLM Earnings

Martin Marietta Materials, Inc. (NYSE:MLM) – Equities research analysts at Zacks Research lowered their Q3 2024 earnings per share (EPS) estimates for shares of Martin Marietta Materials in a research note issued to investors on Monday, October 28th. Zacks Research analyst R. Department now anticipates that the construction company will post earnings of $6.74 per share for the quarter, down from their prior estimate of $7.22. The consensus estimate for Martin Marietta Materials’ current full-year earnings is $19.07 per share. Zacks Research also issued estimates for Martin Marietta Materials’ Q4 2024 earnings at $4.94 EPS, FY2024 earnings at $18.87 EPS, Q1 2025 earnings at $2.32 EPS, Q2 2025 earnings at $6.56 EPS, Q3 2025 earnings at $7.66 EPS, Q4 2025 earnings at $5.44 EPS, FY2025 earnings at $21.98 EPS, Q1 2026 earnings at $2.37 EPS, Q2 2026 earnings at $6.87 EPS, Q3 2026 earnings at $8.23 EPS and FY2026 earnings at $23.21 EPS.

Other equities analysts have also issued research reports about the stock. StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Morgan Stanley boosted their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Jefferies Financial Group reduced their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, Truist Financial lowered their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $626.92.

Martin Marietta Materials Stock Down 2.1 %

Shares of NYSE MLM opened at $592.34 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. The stock has a market capitalization of $36.20 billion, a PE ratio of 18.14, a P/E/G ratio of 4.62 and a beta of 0.91. Martin Marietta Materials has a one year low of $404.93 and a one year high of $626.67. The business’s fifty day moving average price is $539.92 and its 200-day moving average price is $556.12.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the firm posted $6.94 EPS. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis.

Hedge Funds Weigh In On Martin Marietta Materials

Institutional investors and hedge funds have recently made changes to their positions in the business. Castle Wealth Management LLC bought a new position in shares of Martin Marietta Materials in the third quarter worth about $552,000. Principal Financial Group Inc. increased its holdings in shares of Martin Marietta Materials by 76.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after acquiring an additional 704,460 shares during the period. Malaga Cove Capital LLC bought a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at about $304,000. Graypoint LLC boosted its position in shares of Martin Marietta Materials by 2.9% in the 3rd quarter. Graypoint LLC now owns 1,501 shares of the construction company’s stock worth $808,000 after purchasing an additional 43 shares in the last quarter. Finally, Forte Capital LLC ADV acquired a new stake in Martin Marietta Materials in the third quarter worth about $557,000. 95.04% of the stock is owned by hedge funds and other 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 paid a dividend of $0.79 per share. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.53%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.60%.

Martin Marietta Materials Company Profile

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.