Martin Marietta Materials, Inc. (MLM) To Go Ex-Dividend on September 1st

Martin Marietta Materials, Inc. (NYSE:MLM) announced 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) annualized dividend and a 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%per year over the last three years and has raised 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 Price Performance

MLM stock opened at $549.01 on Friday. Martin Marietta Materials has a one year low of $523.48 and a one year high of $710.97. The firm has a 50-day moving average of $572.88 and a two-hundred day moving average of $600.18. The firm has a market capitalization of $32.98 billion, a PE ratio of 13.49, a P/E/G ratio of 2.33 and a beta of 1.11. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM) last released 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. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the firm posted $5.43 earnings per share. On average, analysts forecast that Martin Marietta Materials will post 19.25 earnings per share for the current year.

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.