Martin Marietta Materials, Inc. (NYSE:MLM) – Equities research analysts at SunTrust Banks lowered their Q3 2018 earnings per share estimates for Martin Marietta Materials in a research note issued to investors on Wednesday, October 10th. SunTrust Banks analyst R. Seth now forecasts that the construction company will post earnings of $2.49 per share for the quarter, down from their previous estimate of $3.57. SunTrust Banks also issued estimates for Martin Marietta Materials’ Q4 2018 earnings at $2.23 EPS, FY2018 earnings at $8.13 EPS, Q2 2019 earnings at $2.78 EPS, Q3 2019 earnings at $3.42 EPS, Q4 2019 earnings at $2.47 EPS, FY2019 earnings at $9.13 EPS, Q2 2020 earnings at $3.24 EPS, Q3 2020 earnings at $3.83 EPS and FY2020 earnings at $10.52 EPS.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, July 26th. The construction company reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.45. Martin Marietta Materials had a return on equity of 10.52% and a net margin of 17.82%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the company posted $2.27 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year.
Several other equities research analysts also recently weighed in on MLM. ValuEngine downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th. DA Davidson set a $200.00 target price on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research note on Thursday, October 11th. Citigroup decreased their target price on shares of Martin Marietta Materials from $262.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, July 30th. Bank of America decreased their target price on shares of Martin Marietta Materials to $247.00 and set a “buy” rating for the company in a research note on Wednesday, July 25th. Finally, Stephens reiterated a “hold” rating and set a $233.00 target price on shares of Martin Marietta Materials in a research note on Wednesday, August 1st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $236.13.
Shares of MLM opened at $171.72 on Monday. Martin Marietta Materials has a fifty-two week low of $167.63 and a fifty-two week high of $241.33. The stock has a market cap of $11.47 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.05 and a quick ratio of 1.14.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Tuesday, September 4th were given a $0.48 dividend. The ex-dividend date of this dividend was Friday, August 31st. This represents a $1.92 dividend on an annualized basis and a yield of 1.12%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.44. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 26.74%.
In other news, Director John J. Koraleski acquired 2,400 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, July 27th. The stock was purchased at an average price of $208.06 per share, for a total transaction of $499,344.00. Following the completion of the transaction, the director now directly owns 4,750 shares in the company, valued at $988,285. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Donald A. Mccunniff sold 2,250 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $204.33, for a total transaction of $459,742.50. Following the completion of the sale, the senior vice president now owns 12,649 shares of the company’s stock, valued at approximately $2,584,570.17. The disclosure for this sale can be found here. 0.75% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC acquired a new stake in Martin Marietta Materials in the second quarter valued at about $128,000. Piedmont Investment Advisors LLC acquired a new stake in Martin Marietta Materials in the second quarter valued at about $160,000. Putnam Investments LLC acquired a new stake in Martin Marietta Materials in the second quarter valued at about $203,000. Sawtooth Solutions LLC acquired a new stake in Martin Marietta Materials in the second quarter valued at about $205,000. Finally, Visionary Asset Management Inc. acquired a new stake in Martin Marietta Materials in the second quarter valued at about $217,000.
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 provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; and 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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