$2.40 EPS Expected for Martin Marietta Materials, Inc. (MLM) This Quarter
Equities analysts predict that Martin Marietta Materials, Inc. (NYSE:MLM) will report earnings of $2.40 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Martin Marietta Materials’ earnings, with estimates ranging from $2.29 to $2.48. Martin Marietta Materials reported earnings per share of $1.90 during the same quarter last year, which would suggest a positive year-over-year growth rate of 26.3%. The company is scheduled to issue its next earnings report on Tuesday, August 1st.
According to Zacks, analysts expect that Martin Marietta Materials will report full year earnings of $8.26 per share for the current fiscal year, with EPS estimates ranging from $8.02 to $8.50. For the next fiscal year, analysts forecast that the business will post earnings of $10.80 per share, with EPS estimates ranging from $9.91 to $11.40. Zacks’ EPS calculations are an 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, May 2nd. The construction company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.05. The company had revenue of $791.70 million for the quarter, compared to the consensus estimate of $729.28 million. Martin Marietta Materials had a return on equity of 10.32% and a net margin of 10.91%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 earnings per share.
Several research firms recently issued reports on MLM. BidaskClub upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday. Stephens lifted their price objective on Martin Marietta Materials from $246.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, May 4th. Stifel Nicolaus lifted their price objective on Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Zacks Investment Research upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday, May 1st. Finally, Cleveland Research upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating in a report on Friday, March 31st. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $229.29.
In other Martin Marietta Materials news, SVP Donald A. Mccunniff sold 1,391 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $240.17, for a total value of $334,076.47. Following the transaction, the senior vice president now directly owns 19,858 shares of the company’s stock, valued at approximately $4,769,295.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman C Howard Nye sold 10,258 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $239.16, for a total transaction of $2,453,303.28. Following the completion of the transaction, the chairman now directly owns 143,038 shares in the company, valued at $34,208,968.08. The disclosure for this sale can be found here. Insiders sold a total of 18,121 shares of company stock worth $4,332,440 over the last three months. Corporate insiders own 1.06% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI acquired a new position in Martin Marietta Materials during the fourth quarter worth $266,000. Comerica Bank raised its position in Martin Marietta Materials by 6.8% in the fourth quarter. Comerica Bank now owns 22,151 shares of the construction company’s stock worth $4,888,000 after buying an additional 1,407 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Martin Marietta Materials by 71.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,228 shares of the construction company’s stock worth $715,000 after buying an additional 1,346 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Martin Marietta Materials by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,638 shares of the construction company’s stock worth $806,000 after buying an additional 15 shares during the period. Finally, Tredje AP fonden raised its position in Martin Marietta Materials by 131.7% in the fourth quarter. Tredje AP fonden now owns 3,475 shares of the construction company’s stock worth $770,000 after buying an additional 1,975 shares during the period. 97.23% of the stock is currently owned by institutional investors and hedge funds.
Martin Marietta Materials (MLM) traded up 0.50% during midday trading on Monday, hitting $231.48. The company had a trading volume of 33,944 shares. The firm has a market capitalization of $14.53 billion, a P/E ratio of 34.94 and a beta of 1.21. The company has a 50 day moving average price of $230.65 and a 200 day moving average price of $223.31. Martin Marietta Materials has a 1-year low of $167.06 and a 1-year high of $244.32.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 1st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Tuesday, May 30th. Martin Marietta Materials’s dividend payout ratio (DPR) is 25.42%.
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About Martin Marietta Materials
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.
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