$1.01 Billion in Sales Expected for Martin Marietta Materials, Inc. (MLM) This Quarter

Wall Street brokerages expect that Martin Marietta Materials, Inc. (NYSE:MLM) will announce sales of $1.01 billion for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Martin Marietta Materials’ earnings. The lowest sales estimate is $1.00 billion and the highest is $1.02 billion. Martin Marietta Materials posted sales of $915.40 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10.3%. The firm is scheduled to announce its next earnings results on Tuesday, August 1st.

On average, analysts expect that Martin Marietta Materials will report full-year sales of $1.01 billion for the current financial year, with estimates ranging from $3.90 billion to $3.95 billion. For the next fiscal year, analysts expect that the company will post sales of $4.30 billion per share, with estimates ranging from $4.24 billion to $4.38 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Martin Marietta Materials.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, May 2nd. The construction company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.62 by $0.05. The company had revenue of $791.70 million during the quarter, compared to analysts’ expectations of $729.28 million. Martin Marietta Materials had a net margin of 10.91% and a return on equity of 10.32%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS.

Several equities analysts have recently issued reports on MLM shares. Cleveland Research raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating in a research note on Friday, March 31st. Citigroup Inc started coverage on shares of Martin Marietta Materials in a research note on Wednesday, March 29th. They set a “buy” rating and a $245.00 price target for the company. Stifel Nicolaus raised their price target on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, May 3rd. Stephens raised their price target on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, May 4th. Finally, Zacks Investment Research downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Friday. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Martin Marietta Materials currently has an average rating of “Hold” and a consensus price target of $229.29.

Shares of Martin Marietta Materials (NYSE:MLM) traded down 1.42% during mid-day trading on Friday, hitting $220.60. 325,005 shares of the company’s stock traded hands. The company has a market cap of $13.85 billion, a PE ratio of 33.29 and a beta of 1.14. Martin Marietta Materials has a 52 week low of $167.06 and a 52 week high of $244.32. The firm has a 50-day moving average of $229.22 and a 200 day moving average of $223.50.

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 1st were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Tuesday, May 30th. Martin Marietta Materials’s dividend payout ratio is presently 25.42%.

WARNING: “$1.01 Billion in Sales Expected for Martin Marietta Materials, Inc. (MLM) This Quarter” was first posted by Transcript Daily and is owned by of Transcript Daily. If you are reading this piece on another publication, it was copied illegally and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece can be viewed at https://transcriptdaily.com/2017/08/13/1-01-billion-in-sales-expected-for-martin-marietta-materials-inc-mlm-this-quarter-updated-updated-updated.html.

In related news, CFO Anne H. Lloyd sold 6,472 shares of Martin Marietta Materials stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $238.73, for a total transaction of $1,545,060.56. Following the completion of the transaction, the chief financial officer now owns 69,941 shares of the company’s stock, valued at $16,697,014.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald A. Mccunniff sold 1,391 shares of Martin Marietta Materials stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $240.17, for a total transaction of $334,076.47. Following the transaction, the senior vice president now directly owns 19,858 shares of the company’s stock, valued at approximately $4,769,295.86. The disclosure for this sale can be found here. Insiders have sold 18,121 shares of company stock valued at $4,332,440 in the last three months. 1.06% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the company. Boys Arnold & Co. Inc. increased its position in shares of Martin Marietta Materials by 18.5% in the first quarter. Boys Arnold & Co. Inc. now owns 3,260 shares of the construction company’s stock worth $711,000 after buying an additional 510 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Martin Marietta Materials by 28.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,678 shares of the construction company’s stock worth $1,021,000 after buying an additional 1,040 shares in the last quarter. Reliance Trust Co. of Delaware increased its position in shares of Martin Marietta Materials by 19.5% in the first quarter. Reliance Trust Co. of Delaware now owns 3,475 shares of the construction company’s stock worth $759,000 after buying an additional 568 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Martin Marietta Materials during the first quarter worth $2,117,000. Finally, Heritage Investors Management Corp increased its position in shares of Martin Marietta Materials by 3.9% in the first quarter. Heritage Investors Management Corp now owns 80,577 shares of the construction company’s stock worth $17,586,000 after buying an additional 3,016 shares in the last quarter. 96.34% of the stock is owned by institutional investors and hedge funds.

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.

Get a free copy of the Zacks research report on Martin Marietta Materials (MLM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Martin Marietta Materials (NYSE:MLM)

Receive News & Ratings for Martin Marietta Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply