Wall Street brokerages forecast that Martin Marietta Materials (NYSE:MLM) will announce earnings per share (EPS) of $2.82 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Martin Marietta Materials’ earnings. The lowest EPS estimate is $2.61 and the highest is $3.21. Martin Marietta Materials posted earnings of $2.25 per share during the same quarter last year, which would indicate a positive year over year growth rate of 25.3%. The business is expected to report its next earnings results on Tuesday, August 7th.
According to Zacks, analysts expect that Martin Marietta Materials will report full-year earnings of $8.89 per share for the current financial year, with EPS estimates ranging from $8.12 to $9.35. For the next financial year, analysts anticipate that the firm will report earnings of $10.72 per share, with EPS estimates ranging from $9.46 to $11.97. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Martin Marietta Materials.
Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, May 8th. The construction company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.09). Martin Marietta Materials had a return on equity of 9.47% and a net margin of 17.36%. The business had revenue of $802.00 million for the quarter, compared to analyst estimates of $822.23 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. The firm’s quarterly revenue was down 5.0% on a year-over-year basis.
MLM has been the topic of several recent research reports. Alembic Global Advisors reiterated a “buy” rating on shares of Martin Marietta Materials in a research report on Wednesday, February 14th. SunTrust Banks reiterated a “buy” rating and set a $245.00 target price on shares of Martin Marietta Materials in a research report on Tuesday, February 13th. Bank of America upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $229.00 target price on the stock in a research report on Wednesday, May 2nd. Citigroup set a $262.00 target price on shares of Martin Marietta Materials and gave the stock a “buy” rating in a research report on Tuesday, May 15th. Finally, Barclays set a $232.00 target price on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $235.29.
NYSE:MLM traded up $2.71 during mid-day trading on Friday, hitting $225.58. 36,427 shares of the company’s stock were exchanged, compared to its average volume of 629,631. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.00 and a quick ratio of 3.06. Martin Marietta Materials has a fifty-two week low of $189.26 and a fifty-two week high of $241.33. The company has a market cap of $13.90 billion, a PE ratio of 31.45, a P/E/G ratio of 1.72 and a beta of 1.15.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 1st will be given a $0.44 dividend. The ex-dividend date is Thursday, May 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.78%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 24.51%.
In other news, Director Sue W. Cole sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $210.06, for a total value of $630,180.00. Following the transaction, the director now owns 24,145 shares in the company, valued at approximately $5,071,898.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Roselyn R. Bar sold 5,998 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $213.67, for a total transaction of $1,281,592.66. Following the completion of the transaction, the executive vice president now owns 53,854 shares in the company, valued at approximately $11,506,984.18. The disclosure for this sale can be found here. Insiders sold a total of 20,407 shares of company stock worth $4,337,531 in the last 90 days. Corporate insiders own 0.75% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Martin Marietta Materials by 1.3% in the 1st quarter. BlackRock Inc. now owns 3,910,444 shares of the construction company’s stock worth $810,635,000 after purchasing an additional 48,775 shares during the period. Baillie Gifford & Co. increased its stake in shares of Martin Marietta Materials by 0.5% in the 1st quarter. Baillie Gifford & Co. now owns 2,214,958 shares of the construction company’s stock valued at $459,161,000 after acquiring an additional 11,996 shares in the last quarter. Iridian Asset Management LLC CT increased its stake in shares of Martin Marietta Materials by 22.0% in the 4th quarter. Iridian Asset Management LLC CT now owns 2,177,847 shares of the construction company’s stock valued at $481,391,000 after acquiring an additional 392,445 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Martin Marietta Materials by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,955,132 shares of the construction company’s stock valued at $405,300,000 after acquiring an additional 45,493 shares in the last quarter. Finally, Select Equity Group L.P. increased its stake in shares of Martin Marietta Materials by 2.3% in the 1st quarter. Select Equity Group L.P. now owns 1,817,918 shares of the construction company’s stock valued at $376,854,000 after acquiring an additional 41,730 shares in the last quarter. Hedge funds and other institutional investors own 99.00% of the company’s stock.
About Martin Marietta Materials
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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