Equities research analysts expect Martin Marietta Materials, Inc. (NYSE:MLM) to report sales of $1.25 billion for the current quarter, Zacks reports. Four analysts have issued estimates for Martin Marietta Materials’ earnings, with estimates ranging from $1.23 billion to $1.26 billion. Martin Marietta Materials posted sales of $1.14 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 9.6%. The company is scheduled to issue its next earnings report on Tuesday, November 5th.
On average, analysts expect that Martin Marietta Materials will report full year sales of $4.36 billion for the current fiscal year, with estimates ranging from $4.34 billion to $4.39 billion. For the next year, analysts forecast that the company will post sales of $4.68 billion, with estimates ranging from $4.58 billion to $4.78 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Martin Marietta Materials.
Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, July 30th. The construction company reported $3.01 earnings per share for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.07). The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. Martin Marietta Materials had a return on equity of 10.35% and a net margin of 11.37%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.25 EPS.
MLM has been the topic of a number of research reports. Jefferies Financial Group boosted their price objective on Martin Marietta Materials from $265.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. ValuEngine upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. DA Davidson raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $227.22 price target on the stock in a research note on Thursday, June 6th. JPMorgan Chase & Co. boosted their price target on Martin Marietta Materials from $265.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Finally, Longbow Research set a $265.00 price target on Martin Marietta Materials and gave the stock a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $230.66.
In other Martin Marietta Materials news, Chairman C Howard Nye sold 11,224 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $243.66, for a total value of $2,734,839.84. Following the sale, the chairman now owns 158,885 shares in the company, valued at approximately $38,713,919.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Roselyn R. Bar sold 2,821 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $246.93, for a total value of $696,589.53. Following the completion of the sale, the executive vice president now owns 57,149 shares in the company, valued at approximately $14,111,802.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,485 shares of company stock valued at $5,317,618. 0.73% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of MLM. Dimensional Fund Advisors LP raised its holdings in Martin Marietta Materials by 8.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 592,626 shares of the construction company’s stock worth $101,838,000 after purchasing an additional 45,693 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Martin Marietta Materials by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 778,969 shares of the construction company’s stock valued at $133,637,000 after purchasing an additional 55,593 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Martin Marietta Materials during the first quarter worth $643,000. Janus Henderson Group PLC increased its position in shares of Martin Marietta Materials by 73.9% during the first quarter. Janus Henderson Group PLC now owns 25,865 shares of the construction company’s stock worth $5,203,000 after buying an additional 10,993 shares during the period. Finally, Moors & Cabot Inc. raised its stake in Martin Marietta Materials by 100.0% during the first quarter. Moors & Cabot Inc. now owns 2,328 shares of the construction company’s stock worth $468,000 after buying an additional 1,164 shares during the last quarter.
Shares of MLM traded up $1.64 during trading hours on Friday, reaching $258.46. The stock had a trading volume of 383,341 shares, compared to its average volume of 627,461. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.08 and a current ratio of 1.86. Martin Marietta Materials has a 12 month low of $150.75 and a 12 month high of $264.39. The stock has a market capitalization of $15.93 billion, a PE ratio of 31.95, a PEG ratio of 2.37 and a beta of 1.11. The company’s 50-day moving average is $248.77 and its two-hundred day moving average is $221.83.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.85%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, August 30th. Martin Marietta Materials’s dividend payout ratio is presently 27.19%.
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 offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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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