Martin Marietta Materials, Inc. (MLM) Forecasted to Post Q4 2017 Earnings of $1.83 Per Share
Martin Marietta Materials, Inc. (NYSE:MLM) – Stock analysts at SunTrust Banks raised their Q4 2017 earnings per share estimates for Martin Marietta Materials in a report released on Friday. SunTrust Banks analyst R. Seth now forecasts that the construction company will post earnings per share of $1.83 for the quarter, up from their previous forecast of $1.81. SunTrust Banks also issued estimates for Martin Marietta Materials’ Q2 2018 earnings at $2.55 EPS, Q4 2018 earnings at $2.21 EPS and FY2020 earnings at $11.78 EPS.
A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Monday, September 4th. BidaskClub raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, Jefferies Group LLC set a $166.00 target price on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research note on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Martin Marietta Materials presently has a consensus rating of “Hold” and a consensus price target of $220.57.
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Shares of Martin Marietta Materials (NYSE:MLM) opened at 199.20 on Monday. The firm’s 50-day moving average price is $207.40 and its 200 day moving average price is $219.07. Martin Marietta Materials has a 52 week low of $167.06 and a 52 week high of $244.32. The company has a market capitalization of $12.52 billion, a PE ratio of 28.67 and a beta of 1.15.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.38 by ($0.13). Martin Marietta Materials had a return on equity of 10.69% and a net margin of 11.19%. The company had revenue of $996.30 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm earned $1.90 earnings per share. The company’s revenue was up 8.8% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently made changes to their positions in MLM. Suntrust Banks Inc. increased its holdings in shares of Martin Marietta Materials by 52.4% during the 1st quarter. Suntrust Banks Inc. now owns 1,695 shares of the construction company’s stock worth $369,000 after buying an additional 583 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Martin Marietta Materials by 6.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 1,710 shares of the construction company’s stock worth $373,000 after buying an additional 100 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Martin Marietta Materials during the 1st quarter worth approximately $2,859,000. Toronto Dominion Bank increased its holdings in shares of Martin Marietta Materials by 55.6% during the 1st quarter. Toronto Dominion Bank now owns 16,986 shares of the construction company’s stock worth $3,707,000 after buying an additional 6,072 shares during the last quarter. Finally, Scout Investments Inc. increased its holdings in shares of Martin Marietta Materials by 9.4% during the 1st quarter. Scout Investments Inc. now owns 122,616 shares of the construction company’s stock worth $19,558,000 after buying an additional 10,536 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.
In other Martin Marietta Materials news, Director John J. Koraleski bought 500 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were acquired at an average cost of $198.37 per share, with a total value of $99,185.00. Following the purchase, the director now directly owns 1,439 shares of the company’s stock, valued at approximately $285,454.43. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 8.45% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 5th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.88%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.42. The ex-dividend date is Thursday, August 31st. Martin Marietta Materials’s dividend payout ratio (DPR) is 25.29%.
Martin Marietta Materials Company Profile
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.
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