Martin Marietta Materials (MLM) to Post Q1 2018 Earnings of $0.49 Per Share, DA Davidson Forecasts

Martin Marietta Materials (NYSE:MLM) – Equities researchers at DA Davidson lowered their Q1 2018 earnings per share estimates for Martin Marietta Materials in a research report issued on Thursday, April 5th. DA Davidson analyst B. Thielman now forecasts that the construction company will earn $0.49 per share for the quarter, down from their prior estimate of $0.76. DA Davidson also issued estimates for Martin Marietta Materials’ FY2018 earnings at $7.95 EPS.

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A number of other brokerages have also commented on MLM. Zacks Investment Research raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. SunTrust Banks reissued a “buy” rating and set a $245.00 price target on shares of Martin Marietta Materials in a research note on Tuesday, February 13th. Citigroup increased their price target on Martin Marietta Materials from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Barclays started coverage on Martin Marietta Materials in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $227.00 price target for the company. Finally, Stephens reissued a “hold” rating and set a $250.00 price target on shares of Martin Marietta Materials in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $243.25.

Shares of Martin Marietta Materials stock opened at $202.22 on Monday. Martin Marietta Materials has a 12 month low of $191.09 and a 12 month high of $244.32. The company has a market cap of $12,700.02, a P/E ratio of 28.16, a PEG ratio of 2.91 and a beta of 1.13. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.79 and a quick ratio of 2.93.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, February 13th. The construction company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.46. Martin Marietta Materials had a return on equity of 10.55% and a net margin of 17.99%. The firm had revenue of $911.30 million during the quarter, compared to analyst estimates of $924.30 million. During the same quarter in the prior year, the company posted $1.55 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year.

A number of hedge funds have recently modified their holdings of the business. Iridian Asset Management LLC CT raised its position in Martin Marietta Materials by 22.0% during the fourth quarter. Iridian Asset Management LLC CT now owns 2,177,847 shares of the construction company’s stock valued at $481,391,000 after purchasing an additional 392,445 shares during the period. Aristotle Capital Management LLC raised its position in Martin Marietta Materials by 4.2% during the fourth quarter. Aristotle Capital Management LLC now owns 1,688,885 shares of the construction company’s stock valued at $373,312,000 after purchasing an additional 68,461 shares during the period. Caledonia Private Investments Pty Ltd raised its position in Martin Marietta Materials by 6.0% during the fourth quarter. Caledonia Private Investments Pty Ltd now owns 845,628 shares of the construction company’s stock valued at $186,918,000 after purchasing an additional 47,539 shares during the period. William Blair Investment Management LLC raised its position in Martin Marietta Materials by 26.4% during the fourth quarter. William Blair Investment Management LLC now owns 753,144 shares of the construction company’s stock valued at $166,475,000 after purchasing an additional 157,388 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Martin Marietta Materials by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 749,210 shares of the construction company’s stock valued at $165,605,000 after purchasing an additional 3,346 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

In other Martin Marietta Materials news, Director Sue W. Cole sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $210.06, for a total transaction of $630,180.00. Following the sale, the director now directly owns 24,145 shares in the company, valued at $5,071,898.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 8.45% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Monday, March 5th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, March 2nd. This represents a $1.76 dividend on an annualized basis and a yield of 0.87%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 24.51%.

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Martin Marietta Materials Company Profile

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.

Earnings History and Estimates for Martin Marietta Materials (NYSE:MLM)

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