Wall Street brokerages forecast that Martin Marietta Materials, Inc. (NYSE:MLM) will report sales of $1.22 billion for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Martin Marietta Materials’ earnings, with estimates ranging from $1.19 billion to $1.25 billion. Martin Marietta Materials posted sales of $1.13 billion in the same quarter last year, which would indicate a positive year over year growth rate of 8%. The firm is expected to issue its next quarterly earnings report on Thursday, July 25th.
According to Zacks, analysts expect that Martin Marietta Materials will report full-year sales of $4.37 billion for the current year, with estimates ranging from $4.33 billion to $4.42 billion. For the next fiscal year, analysts forecast that the business will report sales of $4.68 billion, with estimates ranging from $4.58 billion to $4.78 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Martin Marietta Materials.
Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, April 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.39. Martin Marietta Materials had a net margin of 11.48% and a return on equity of 10.82%. The business had revenue of $938.96 million for the quarter, compared to analyst estimates of $881.82 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Martin Marietta Materials’s revenue was up 17.1% compared to the same quarter last year.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. Citigroup lifted their price target on shares of Martin Marietta Materials from $239.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Berenberg Bank assumed coverage on shares of Martin Marietta Materials in a research note on Wednesday, April 3rd. They set a “hold” rating and a $194.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of Martin Marietta Materials in a research note on Thursday, March 21st. They set an “overweight” rating and a $225.00 price target on the stock. Finally, Goldman Sachs Group upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $207.00 to $232.00 in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $219.93.
In other news, Director Sue W. Cole sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $195.07, for a total value of $292,605.00. Following the sale, the director now owns 20,933 shares in the company, valued at approximately $4,083,400.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Donald A. Mccunniff sold 660 shares of the business’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $190.90, for a total transaction of $125,994.00. Following the completion of the sale, the senior vice president now owns 15,349 shares in the company, valued at approximately $2,930,124.10. The disclosure for this sale can be found here. Insiders sold a total of 20,011 shares of company stock worth $4,353,464 in the last 90 days. 0.73% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Man Group plc bought a new position in shares of Martin Marietta Materials in the third quarter valued at about $255,000. Nordea Investment Management AB raised its holdings in shares of Martin Marietta Materials by 1,994.5% in the third quarter. Nordea Investment Management AB now owns 60,698 shares of the construction company’s stock valued at $11,045,000 after buying an additional 57,800 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Martin Marietta Materials by 2.3% in the third quarter. Legal & General Group Plc now owns 271,065 shares of the construction company’s stock valued at $49,320,000 after buying an additional 6,100 shares during the last quarter. Vanguard Group Inc raised its holdings in shares of Martin Marietta Materials by 0.4% in the third quarter. Vanguard Group Inc now owns 6,653,036 shares of the construction company’s stock valued at $1,210,520,000 after buying an additional 28,832 shares during the last quarter. Finally, Federated Investors Inc. PA raised its holdings in shares of Martin Marietta Materials by 77,513.2% in the third quarter. Federated Investors Inc. PA now owns 135,047 shares of the construction company’s stock valued at $24,572,000 after buying an additional 134,873 shares during the last quarter.
MLM opened at $217.31 on Thursday. Martin Marietta Materials has a fifty-two week low of $150.75 and a fifty-two week high of $232.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 1.81. The firm has a market cap of $13.30 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 2.09 and a beta of 1.15.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.92 annualized dividend and a dividend yield of 0.88%. Martin Marietta Materials’s dividend payout ratio is presently 23.73%.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.
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