Martin Marietta Materials (MLM) Issues Earnings Results

Martin Marietta Materials (NYSE:MLM) released its quarterly earnings data on Tuesday. The construction company reported $1.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.46, Morningstar.com reports. Martin Marietta Materials had a return on equity of 10.39% and a net margin of 11.03%. The business had revenue of $911.30 million for the quarter, compared to the consensus estimate of $924.30 million. During the same quarter in the previous year, the company posted $1.55 EPS. The company’s revenue was up 2.5% compared to the same quarter last year.

Martin Marietta Materials (NYSE:MLM) traded down $5.92 during midday trading on Wednesday, hitting $212.49. The stock had a trading volume of 502,275 shares, compared to its average volume of 749,275. The company has a market cap of $13,374.00, a P/E ratio of 31.22, a P/E/G ratio of 2.22 and a beta of 1.10. The company has a current ratio of 2.73, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38. Martin Marietta Materials has a 52-week low of $191.09 and a 52-week high of $244.32.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLM. Numeric Investors LLC bought a new position in shares of Martin Marietta Materials during the 2nd quarter valued at approximately $200,000. QS Investors LLC increased its position in shares of Martin Marietta Materials by 19.4% during the 2nd quarter. QS Investors LLC now owns 2,651 shares of the construction company’s stock valued at $590,000 after purchasing an additional 430 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Martin Marietta Materials by 523.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,336 shares of the construction company’s stock valued at $743,000 after purchasing an additional 2,801 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Martin Marietta Materials by 10.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 70,320 shares of the construction company’s stock valued at $15,652,000 after purchasing an additional 6,610 shares during the last quarter. Finally, Westwood Holdings Group Inc. bought a new position in shares of Martin Marietta Materials during the 2nd quarter valued at approximately $187,000. 98.23% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have issued reports on MLM. Alembic Global Advisors reaffirmed a “buy” rating on shares of Martin Marietta Materials in a research note on Wednesday. SunTrust Banks reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Martin Marietta Materials in a research note on Tuesday. Citigroup lifted their price objective on Martin Marietta Materials from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Zacks Investment Research raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Stephens reaffirmed a “hold” rating and issued a $250.00 price objective on shares of Martin Marietta Materials in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $243.25.

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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.

Earnings History for Martin Marietta Materials (NYSE:MLM)

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