Martin Marietta Materials, Inc. (NYSE:MLM) declared a quarterly dividend on Friday, November 17th, Wall Street Journal reports. Investors of record on Friday, December 1st will be given a dividend of 0.44 per share by the construction company on Friday, December 29th. This represents a $1.76 annualized dividend and a yield of 0.84%. The ex-dividend date is Thursday, November 30th.

Martin Marietta Materials has decreased its dividend by an average of 8.6% annually over the last three years. Martin Marietta Materials has a payout ratio of 25.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Martin Marietta Materials to earn $8.70 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 20.2%.

Martin Marietta Materials (MLM) traded up $3.20 during mid-day trading on Friday, reaching $209.38. 483,700 shares of the company traded hands, compared to its average volume of 646,765. The firm has a market capitalization of $13,060.00, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14. The company has a current ratio of 2.73, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38. Martin Marietta Materials has a 1-year low of $191.09 and a 1-year high of $244.32.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, November 2nd. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($0.06). The firm had revenue of $1.02 million during the quarter, compared to analyst estimates of $1.07 billion. Martin Marietta Materials had a net margin of 11.03% and a return on equity of 10.39%. Martin Marietta Materials’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.49 EPS. equities analysts anticipate that Martin Marietta Materials will post 6.92 earnings per share for the current year.

Several equities analysts recently issued reports on MLM shares. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday, September 4th. Bank of America Corporation dropped their price objective on shares of Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating on the stock in a report on Thursday, October 19th. Jefferies Group LLC reiterated a “buy” rating and set a $240.00 price objective on shares of Martin Marietta Materials in a report on Wednesday, October 11th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $228.00 price objective on shares of Martin Marietta Materials in a report on Friday, October 27th. Finally, DA Davidson reiterated a “hold” rating and set a $225.00 price objective on shares of Martin Marietta Materials in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $242.43.

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About Martin Marietta Materials

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

Dividend History for Martin Marietta Materials (NYSE:MLM)

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