DA Davidson Research Analysts Lower Earnings Estimates for Martin Marietta Materials Inc. (MLM)
Martin Marietta Materials Inc. (NYSE:MLM) – Investment analysts at DA Davidson cut their FY2016 earnings per share (EPS) estimates for shares of Martin Marietta Materials in a research note issued on Thursday. DA Davidson analyst B. Thielman now forecasts that the brokerage will earn $7.27 per share for the year, down from their prior forecast of $7.50. DA Davidson has a “Hold” rating and a $210.00 price objective on the stock.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by $0.12. Martin Marietta Materials had a return on equity of 9.36% and a net margin of 9.96%. The firm had revenue of $915.40 million for the quarter, compared to analyst estimates of $953.30 million. During the same quarter last year, the firm earned $1.22 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year.
A number of other research firms have also weighed in on MLM. Zacks Investment Research lowered shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 19th. Bank of America Corp. reaffirmed a “buy” rating on shares of Martin Marietta Materials in a report on Friday, June 17th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Martin Marietta Materials in a report on Wednesday, August 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $204.17.
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Martin Marietta Materials (NYSE:MLM) opened at 170.12 on Monday. The stock’s 50 day moving average is $182.11 and its 200-day moving average is $183.06. Martin Marietta Materials has a 52 week low of $108.31 and a 52 week high of $206.36. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of 30.31 and a beta of 1.36.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 1st were given a $0.42 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Tuesday, August 30th. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 30.05%.
In other news, EVP Roselyn R. Bar sold 5,830 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $199.98, for a total value of $1,165,883.40. Following the transaction, the executive vice president now directly owns 42,588 shares in the company, valued at approximately $8,516,748.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David G. Maffucci sold 6,779 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $199.90, for a total transaction of $1,355,122.10. Following the completion of the transaction, the director now owns 20,326 shares in the company, valued at $4,063,167.40. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of MLM. Northwestern Mutual Wealth Management Co. increased its position in Martin Marietta Materials by 1.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 530 shares of the company’s stock worth $101,000 after buying an additional 5 shares during the last quarter. Checchi Capital Advisers LLC increased its position in Martin Marietta Materials by 5.9% in the second quarter. Checchi Capital Advisers LLC now owns 686 shares of the company’s stock worth $132,000 after buying an additional 38 shares during the last quarter. BlueMountain Capital Management LLC increased its position in Martin Marietta Materials by 1,196.3% in the second quarter. BlueMountain Capital Management LLC now owns 700 shares of the company’s stock worth $134,000 after buying an additional 646 shares during the last quarter. Bessemer Group Inc. acquired a new position in Martin Marietta Materials during the second quarter worth about $134,000. Finally, Mizuho Asset Management Co. Ltd. increased its position in Martin Marietta Materials by 133.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 809 shares of the company’s stock worth $155,000 after buying an additional 463 shares during the last quarter. Institutional investors own 97.18% of the company’s stock.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand and gravel) for the construction industry, used for the construction of infrastructure, non-residential, and residential projects. The Company operates through three businesses: Aggregates Business, Cement Business and Magnesia Specialties Business.
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