Brokerages forecast that Martin Marietta Materials, Inc. (NYSE:MLM) will report sales of $855.88 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Martin Marietta Materials’ earnings. The lowest sales estimate is $804.00 million and the highest is $913.00 million. Martin Marietta Materials reported sales of $802.00 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.7%. The firm is expected to issue its next quarterly earnings results on Tuesday, May 14th.
According to Zacks, analysts expect that Martin Marietta Materials will report full year sales of $4.38 billion for the current year, with estimates ranging from $4.29 billion to $4.59 billion. For the next financial year, analysts expect that the business will report sales of $4.71 billion, with estimates ranging from $4.54 billion to $4.90 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Martin Marietta Materials.
Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, February 12th. The construction company reported $1.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.71 by ($0.21). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. Martin Marietta Materials had a return on equity of 10.31% and a net margin of 11.07%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.88 EPS.
Several analysts have weighed in on the company. SunTrust Banks lowered their price objective on Martin Marietta Materials to $205.00 and set a “buy” rating for the company in a research report on Thursday, November 15th. Zacks Investment Research downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. Stephens upgraded Martin Marietta Materials from an “equal” rating to an “overweight” rating in a research report on Friday, February 15th. ValuEngine upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday, November 15th. Finally, Deutsche Bank boosted their price objective on Martin Marietta Materials from $198.00 to $207.00 and gave the company a “buy” rating in a research report on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $217.45.
MLM stock traded up $1.80 during midday trading on Friday, hitting $193.50. The company had a trading volume of 649,900 shares, compared to its average volume of 761,771. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.89 and a current ratio of 1.74. Martin Marietta Materials has a 52 week low of $150.75 and a 52 week high of $232.88. The company has a market capitalization of $11.97 billion, a P/E ratio of 23.92, a PEG ratio of 1.70 and a beta of 1.12.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 4th will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $1.92 annualized dividend and a yield of 0.99%. Martin Marietta Materials’s payout ratio is currently 23.73%.
In other news, SVP Donald A. Mccunniff sold 660 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $190.90, for a total transaction of $125,994.00. Following the transaction, the senior vice president now directly owns 15,349 shares of the company’s stock, valued at $2,930,124.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sue W. Cole sold 1,500 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 20,933 shares in the company, valued at $4,083,400.31. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. bought a new position in Martin Marietta Materials in the 3rd quarter worth about $110,000. Russell Investments Group Ltd. boosted its holdings in shares of Martin Marietta Materials by 18.9% in the third quarter. Russell Investments Group Ltd. now owns 87,405 shares of the construction company’s stock valued at $16,142,000 after acquiring an additional 13,863 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Martin Marietta Materials by 34.4% in the third quarter. Private Advisor Group LLC now owns 1,384 shares of the construction company’s stock valued at $252,000 after acquiring an additional 354 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Martin Marietta Materials by 9.6% in the third quarter. Wells Fargo & Company MN now owns 187,789 shares of the construction company’s stock valued at $34,167,000 after acquiring an additional 16,486 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Martin Marietta Materials by 6.4% in the third quarter. American Century Companies Inc. now owns 858,777 shares of the construction company’s stock valued at $156,254,000 after acquiring an additional 51,410 shares in the last quarter.
About Martin Marietta Materials
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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