Wall Street analysts forecast that Martin Marietta Materials (NYSE:MLM) will post $1.16 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Martin Marietta Materials’ earnings. The lowest sales estimate is $1.06 billion and the highest is $1.20 billion. Martin Marietta Materials reported sales of $996.30 million during the same quarter last year, which indicates a positive year over year growth rate of 16.4%. The company is expected to announce its next quarterly earnings report on Tuesday, August 7th.
According to Zacks, analysts expect that Martin Marietta Materials will report full-year sales of $4.36 billion for the current fiscal year, with estimates ranging from $4.24 billion to $4.48 billion. For the next year, analysts forecast that the firm will post sales of $4.72 billion per share, with estimates ranging from $4.26 billion to $5.06 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Martin Marietta Materials.
Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, May 8th. The construction company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.09). The business had revenue of $802.00 million during the quarter, compared to the consensus estimate of $822.23 million. Martin Marietta Materials had a net margin of 17.36% and a return on equity of 9.47%. The business’s revenue was down 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 earnings per share.
Several equities analysts have recently issued reports on MLM shares. ValuEngine raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. Zacks Investment Research raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Citigroup set a $262.00 target price on Martin Marietta Materials and gave the company a “buy” rating in a report on Tuesday, May 15th. SunTrust Banks reaffirmed a “buy” rating and issued a $245.00 target price on shares of Martin Marietta Materials in a report on Tuesday, February 13th. Finally, Stephens reaffirmed a “hold” rating and issued a $233.00 target price on shares of Martin Marietta Materials in a report on Friday, April 13th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $234.57.
In other Martin Marietta Materials news, Director Michael J. Quillen sold 3,000 shares of the stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $212.50, for a total transaction of $637,500.00. Following the completion of the transaction, the director now directly owns 20,283 shares of the company’s stock, valued at $4,310,137.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman C Howard Nye sold 8,409 shares of the stock in a transaction on Wednesday, May 9th. The shares were sold at an average price of $212.66, for a total value of $1,788,257.94. Following the transaction, the chairman now directly owns 146,977 shares of the company’s stock, valued at $31,256,128.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,407 shares of company stock valued at $4,337,531. 0.75% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Amalgamated Bank boosted its holdings in shares of Martin Marietta Materials by 9.8% in the first quarter. Amalgamated Bank now owns 9,061 shares of the construction company’s stock worth $1,878,000 after acquiring an additional 812 shares during the period. CIBC World Markets Inc. bought a new position in shares of Martin Marietta Materials in the first quarter worth $1,762,000. Xact Kapitalforvaltning AB boosted its holdings in shares of Martin Marietta Materials by 4.1% in the first quarter. Xact Kapitalforvaltning AB now owns 10,135 shares of the construction company’s stock worth $2,101,000 after acquiring an additional 401 shares during the period. Alkeon Capital Management LLC boosted its holdings in shares of Martin Marietta Materials by 260.0% in the first quarter. Alkeon Capital Management LLC now owns 225,000 shares of the construction company’s stock worth $46,643,000 after acquiring an additional 162,500 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Martin Marietta Materials by 4,255.7% in the first quarter. Millennium Management LLC now owns 364,225 shares of the construction company’s stock worth $75,504,000 after acquiring an additional 355,863 shares during the period. 99.00% of the stock is owned by hedge funds and other institutional investors.
Shares of Martin Marietta Materials traded down $1.69, hitting $216.13, during trading on Thursday, MarketBeat Ratings reports. The company’s stock had a trading volume of 407,429 shares, compared to its average volume of 675,546. The firm has a market cap of $13.81 billion, a PE ratio of 30.10, a P/E/G ratio of 1.70 and a beta of 1.15. The company has a quick ratio of 3.06, a current ratio of 4.00 and a debt-to-equity ratio of 0.58. Martin Marietta Materials has a 52 week low of $189.26 and a 52 week high of $241.33.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 1st will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.81%. The ex-dividend date is Thursday, May 31st. Martin Marietta Materials’s dividend payout ratio (DPR) is 24.51%.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc, a natural-resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.
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