Martin Marietta Materials, Inc. (MLM) Forecasted to Earn Q4 2017 Earnings of $1.77 Per Share
Martin Marietta Materials, Inc. (NYSE:MLM) – Analysts at Jefferies Group issued their Q4 2017 earnings estimates for shares of Martin Marietta Materials in a research note issued on Wednesday. Jefferies Group analyst P. Ng forecasts that the construction company will post earnings of $1.77 per share for the quarter. Jefferies Group currently has a “Buy” rating and a $240.00 price target on the stock. Jefferies Group also issued estimates for Martin Marietta Materials’ FY2018 earnings at $9.11 EPS and FY2019 earnings at $11.09 EPS.
Several other brokerages have also recently issued reports on MLM. BidaskClub upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Zacks Investment Research cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Citigroup Inc. restated a “buy” rating and set a $260.00 target price (down from $270.00) on shares of Martin Marietta Materials in a research report on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Martin Marietta Materials currently has an average rating of “Buy” and a consensus price target of $244.20.
Shares of Martin Marietta Materials (NYSE:MLM) traded up 0.12% on Thursday, hitting $203.98. The stock had a trading volume of 59,602 shares. The stock has a market cap of $12.82 billion, a PE ratio of 29.35 and a beta of 1.13. The company has a 50 day moving average price of $204.15 and a 200-day moving average price of $217.83. Martin Marietta Materials has a 12 month low of $167.06 and a 12 month high of $244.32.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.38 by ($0.13). Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. The company had revenue of $996.30 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business posted $1.90 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 5th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.86%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, August 31st. Martin Marietta Materials’s dividend payout ratio is currently 25.29%.
In other news, Director John J. Koraleski purchased 500 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average cost of $198.37 per share, for a total transaction of $99,185.00. Following the acquisition, the director now owns 1,439 shares of the company’s stock, valued at approximately $285,454.43. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.45% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Martin Marietta Materials by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,379,214 shares of the construction company’s stock valued at $1,419,885,000 after purchasing an additional 149,816 shares during the last quarter. BlackRock Inc. grew its holdings in Martin Marietta Materials by 2.2% during the 2nd quarter. BlackRock Inc. now owns 3,817,803 shares of the construction company’s stock valued at $849,766,000 after purchasing an additional 81,136 shares during the last quarter. Egerton Capital UK LLP grew its holdings in Martin Marietta Materials by 329.1% during the 2nd quarter. Egerton Capital UK LLP now owns 1,967,865 shares of the construction company’s stock valued at $438,007,000 after purchasing an additional 1,509,258 shares during the last quarter. Aristotle Capital Management LLC grew its holdings in Martin Marietta Materials by 4.8% during the 1st quarter. Aristotle Capital Management LLC now owns 1,544,722 shares of the construction company’s stock valued at $337,136,000 after purchasing an additional 70,095 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Martin Marietta Materials by 3.4% during the 2nd quarter. Principal Financial Group Inc. now owns 1,378,563 shares of the construction company’s stock valued at $306,840,000 after purchasing an additional 45,402 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.
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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