Martin Marietta Materials, Inc. (NYSE:MLM) Shareholders to Collect $0.84 Quarterly Dividend

Martin Marietta Materials, Inc. (NYSE:MLM) declared a quarterly dividend on Thursday, November 12th. Shareholders of record on Tuesday, December 1st will be given 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 yield of 0.6%. The ex-dividend date of this dividend is Tuesday, December 1st.

Martin Marietta Materials has raised its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 9 years. Martin Marietta Materials has a payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Equities 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

NYSE MLM opened at $517.80 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.63 and a quick ratio of 0.91. The company has a market cap of $36.83 billion, a P/E ratio of 13.70, a P/E/G ratio of 2.89 and a beta of 1.02. The stock has a 50-day moving average of $503.56 and a two-hundred day moving average of $570.95. Martin Marietta Materials has a 1-year low of $464.92 and a 1-year high of $710.97.

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

Hedge Funds Weigh In On Martin Marietta Materials

A number of institutional investors and hedge funds have recently bought and sold shares of MLM. BlackRock Inc. purchased a new position in Martin Marietta Materials in the second quarter valued at about $2,706,134,000. Bank of America Corp DE acquired a new position in shares of Martin Marietta Materials in the 2nd quarter valued at approximately $1,411,047,000. Dimensional Fund Advisors LP raised its position in shares of Martin Marietta Materials by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 546,170 shares of the construction company’s stock valued at $321,442,000 after purchasing an additional 5,764 shares in the last quarter. Aberdeen Group plc raised its position in shares of Martin Marietta Materials by 1,735.1% in the 3rd quarter. Aberdeen Group plc now owns 448,545 shares of the construction company’s stock valued at $215,216,000 after purchasing an additional 424,103 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Martin Marietta Materials by 13.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 386,046 shares of the construction company’s stock valued at $222,633,000 after buying an additional 46,228 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

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.