Martin Marietta Materials, Inc. to Post Q1 2018 Earnings of $0.97 Per Share, Jefferies Group Forecasts (MLM)
Martin Marietta Materials, Inc. (NYSE:MLM) – Investment analysts at Jefferies Group issued their Q1 2018 earnings per share (EPS) estimates for shares of Martin Marietta Materials in a note issued to investors on Wednesday. Jefferies Group analyst P. Ng expects that the construction company will earn $0.97 per share for the quarter. Jefferies Group currently has a “Buy” rating and a $240.00 target price on the stock. Jefferies Group also issued estimates for Martin Marietta Materials’ Q2 2018 earnings at $2.71 EPS, Q3 2018 earnings at $3.03 EPS and Q4 2018 earnings at $2.40 EPS.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.38 by ($0.13). The firm had revenue of $996.30 million for the quarter, compared to analysts’ expectations of $1.01 billion. Martin Marietta Materials had a return on equity of 10.69% and a net margin of 11.19%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.90 earnings per share. COPYRIGHT VIOLATION WARNING: “Martin Marietta Materials, Inc. to Post Q1 2018 Earnings of $0.97 Per Share, Jefferies Group Forecasts (MLM)” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international trademark & copyright law. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/13/martin-marietta-materials-inc-to-post-q1-2018-earnings-of-0-97-per-share-jefferies-group-forecasts-mlm.html.
Several other analysts also recently issued reports on the company. Citigroup Inc. restated a “buy” rating and set a $260.00 price objective (down previously from $270.00) on shares of Martin Marietta Materials in a report on Monday. Zacks Investment Research upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Finally, BidaskClub downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $244.20.
Shares of Martin Marietta Materials (NYSE:MLM) traded up 0.13% during midday trading on Friday, hitting $206.25. 50,428 shares of the stock were exchanged. The stock has a market cap of $12.96 billion, a P/E ratio of 29.68 and a beta of 1.13. The stock’s 50-day moving average price is $204.22 and its 200 day moving average price is $217.75. Martin Marietta Materials has a one year low of $172.38 and a one year high of $244.32.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 5th were issued a $0.44 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.85%. Martin Marietta Materials’s dividend payout ratio is currently 25.29%.
In other Martin Marietta Materials news, Director John J. Koraleski bought 500 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were bought at an average price of $198.37 per share, for a total transaction of $99,185.00. Following the acquisition, the director now directly owns 1,439 shares of the company’s stock, valued at $285,454.43. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.45% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in MLM. Sun Life Financial INC increased its holdings in Martin Marietta Materials by 6,442.9% in the second quarter. Sun Life Financial INC now owns 458 shares of the construction company’s stock worth $102,000 after buying an additional 451 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Martin Marietta Materials by 130.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock worth $120,000 after buying an additional 305 shares during the last quarter. Dupont Capital Management Corp acquired a new position in Martin Marietta Materials in the second quarter worth approximately $128,000. Northwest Investment Counselors LLC acquired a new position in Martin Marietta Materials in the second quarter worth approximately $134,000. Finally, FNY Partners Fund LP acquired a new position in Martin Marietta Materials in the first quarter worth approximately $174,000. Hedge funds and other 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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