FY2017 Earnings Estimate for Martin Marietta Materials, Inc. Issued By DA Davidson (MLM)
Martin Marietta Materials, Inc. (NYSE:MLM) – Research analysts at DA Davidson cut their FY2017 earnings per share (EPS) estimates for shares of Martin Marietta Materials in a research note issued on Wednesday. DA Davidson analyst B. Thielman now forecasts that the construction company will earn $7.44 per share for the year, down from their prior forecast of $7.95. DA Davidson also issued estimates for Martin Marietta Materials’ FY2019 earnings at $11.50 EPS.
Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.38 by ($0.13). The business had revenue of $996.30 million during the quarter, compared to analyst estimates 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 revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.90 EPS.
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Other equities research analysts have also issued research reports about the stock. Bank of America Corporation dropped their price objective on shares of Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating for the company in a research report on Thursday. BidaskClub lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Zacks Investment Research lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $240.00 price target on shares of Martin Marietta Materials in a report on Wednesday, October 11th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $260.00 price target (down from $270.00) on shares of Martin Marietta Materials in a report on Monday, October 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $241.67.
Martin Marietta Materials (NYSE MLM) traded up 0.62% during trading on Friday, hitting $210.79. 48,000 shares of the company’s stock traded hands. The stock has a market cap of $13.25 billion, a P/E ratio of 30.33 and a beta of 1.13. The firm’s 50-day moving average price is $204.62 and its 200 day moving average price is $217.50. Martin Marietta Materials has a 12-month low of $175.16 and a 12-month high of $244.32.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 5th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.84%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, August 31st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 25.29%.
In other news, Director John J. Koraleski purchased 500 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average cost of $198.37 per share, with a total value of $99,185.00. Following the acquisition, the director now owns 1,439 shares in the company, valued at $285,454.43. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.45% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Sun Life Financial INC boosted its stake in Martin Marietta Materials by 6,442.9% during the 2nd quarter. Sun Life Financial INC now owns 458 shares of the construction company’s stock valued at $102,000 after acquiring an additional 451 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Martin Marietta Materials by 130.9% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock valued at $120,000 after acquiring an additional 305 shares during the last quarter. Dupont Capital Management Corp bought a new position in Martin Marietta Materials during the 2nd quarter valued at $128,000. Northwest Investment Counselors LLC bought a new position in Martin Marietta Materials during the 2nd quarter valued at $134,000. Finally, FNY Partners Fund LP bought a new position in Martin Marietta Materials during the 1st quarter valued at $174,000. Hedge funds and other institutional investors own 95.72% 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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