We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Martin Marietta (MLM) Declares 5% Quarterly Dividend Hike
Read MoreHide Full Article
In a bid to impress investors, Martin Marietta Materials, Inc.’s (MLM - Free Report) board of directors approved a 5% hike in its quarterly cash dividend to 44 cents per share. The dividend will be paid on Sep 29, 2017, to shareholders of record as on Sep 5, 2017. The new figure will add up to an annual dividend of $1.76 per share.
Martin Marietta regularly returns value through share buybacks and higher dividends. The company announced a new share repurchase program in February 2015 under which it may acquire up to 20 million shares of its outstanding common stock over the next three years.
Martin Marietta has returned more than $1.1 billion to shareholders through repurchases and dividend payouts, since the inception of the program. The company’s outstanding share repurchase authorization at the end of second-quarter 2017 was $14.6 million.
Moreover, in 2016, Martin Marietta raised the quarterly cash dividend by 5% to 42 cents, which represents a cash dividend of $1.68 per share on an annualized basis. In fact, from 1994 to 2009, annual dividends saw a compound average growth rate of near 9%, reaching $1.60 peryear. Since 2009, Martin Marietta has maintained its $1.60 annual dividend despite recession, which compelled many of its peers to significantly reduce or call off dividends altogether.
Investors should keep in mind that Martin Marietta’s shares have lost 9.7% so far this year, wider than the industry’s decline of 2.2%. Earnings estimates for both the current quarter and year moved down 2.9% over the past 30 days.
We believe that the recent dividend hike will bolster investors’ confidence in the company’s financials, improve its market position against competitors and lend more upside to the stock.
Lennar and M/I Homes carry a Zacks Rank #2 (Buy). Fiscal 2017 earnings for Lennar are expected to increase 9.5%, while full-year 2017 earnings for M/I Homes are likely to rise 37.1%.
4 Surprising Tech Stocks to Keep an Eye On
Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really take off. See Stocks Now>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Martin Marietta (MLM) Declares 5% Quarterly Dividend Hike
In a bid to impress investors, Martin Marietta Materials, Inc.’s (MLM - Free Report) board of directors approved a 5% hike in its quarterly cash dividend to 44 cents per share. The dividend will be paid on Sep 29, 2017, to shareholders of record as on Sep 5, 2017. The new figure will add up to an annual dividend of $1.76 per share.
Martin Marietta regularly returns value through share buybacks and higher dividends. The company announced a new share repurchase program in February 2015 under which it may acquire up to 20 million shares of its outstanding common stock over the next three years.
Martin Marietta has returned more than $1.1 billion to shareholders through repurchases and dividend payouts, since the inception of the program. The company’s outstanding share repurchase authorization at the end of second-quarter 2017 was $14.6 million.
Moreover, in 2016, Martin Marietta raised the quarterly cash dividend by 5% to 42 cents, which represents a cash dividend of $1.68 per share on an annualized basis. In fact, from 1994 to 2009, annual dividends saw a compound average growth rate of near 9%, reaching $1.60 peryear. Since 2009, Martin Marietta has maintained its $1.60 annual dividend despite recession, which compelled many of its peers to significantly reduce or call off dividends altogether.
Investors should keep in mind that Martin Marietta’s shares have lost 9.7% so far this year, wider than the industry’s decline of 2.2%. Earnings estimates for both the current quarter and year moved down 2.9% over the past 30 days.
We believe that the recent dividend hike will bolster investors’ confidence in the company’s financials, improve its market position against competitors and lend more upside to the stock.
Zacks Rank & Stocks to Consider
Martin Marietta carries a Zacks Rank #4 (Sell).
Better-ranked stocks in the industry include Lennar Corporation (LEN - Free Report) , M/I Homes, Inc. (MHO - Free Report) and KB Home (KBH - Free Report) .
KB Home, a Zacks Rank #1 (Strong Buy) stock, is expected to witness 51.9% growth in fiscal 2017 earnings. You can see the complete list of today’s Zacks #1 Rank stocks here.
Lennar and M/I Homes carry a Zacks Rank #2 (Buy). Fiscal 2017 earnings for Lennar are expected to increase 9.5%, while full-year 2017 earnings for M/I Homes are likely to rise 37.1%.
4 Surprising Tech Stocks to Keep an Eye On
Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really take off.
See Stocks Now>>