Research Analysts Issue Forecasts for Martin Marietta Materials, Inc.’s Q1 2018 Earnings (MLM)
Martin Marietta Materials, Inc. (NYSE:MLM) – Jefferies Group issued their Q1 2018 earnings per share (EPS) estimates for Martin Marietta Materials in a report issued on Wednesday. Jefferies Group analyst P. Ng forecasts that the construction company will post earnings of $0.97 per share for the quarter. Jefferies Group currently has a “Buy” rating and a $240.00 target price on the stock. Jefferies Group also issued estimates for Martin Marietta Materials’ Q2 2018 earnings at $2.71 EPS, Q3 2018 earnings at $3.03 EPS and Q4 2018 earnings at $2.40 EPS.
Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing the Zacks’ consensus estimate of $2.38 by ($0.13). Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. The firm had revenue of $996.30 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company earned $1.90 EPS. Martin Marietta Materials’s quarterly revenue was up 8.8% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the stock. Citigroup Inc. reaffirmed a “buy” rating and issued a $260.00 target price (down from $270.00) on shares of Martin Marietta Materials in a research report on Monday, October 9th. Zacks Investment Research cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Finally, BidaskClub cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Martin Marietta Materials currently has an average rating of “Buy” and a consensus price target of $244.20.
Shares of Martin Marietta Materials (NYSE:MLM) opened at 204.57 on Friday. The company has a 50 day moving average of $204.62 and a 200-day moving average of $217.79. Martin Marietta Materials has a 52-week low of $172.38 and a 52-week high of $244.32. The company has a market cap of $12.85 billion, a PE ratio of 29.44 and a beta of 1.13.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Sun Life Financial INC lifted its position in Martin Marietta Materials by 6,442.9% during the 2nd quarter. Sun Life Financial INC now owns 458 shares of the construction company’s stock valued at $102,000 after acquiring an additional 451 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Martin Marietta Materials by 130.9% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock valued at $120,000 after acquiring an additional 305 shares during the period. Dupont Capital Management Corp purchased a new position in Martin Marietta Materials during the 2nd quarter valued at about $128,000. Northwest Investment Counselors LLC purchased a new position in Martin Marietta Materials during the 2nd quarter valued at about $134,000. Finally, FNY Partners Fund LP purchased a new position in Martin Marietta Materials during the 1st quarter valued at about $174,000. 95.78% of the stock is owned by institutional investors.
In other Martin Marietta Materials news, Director John J. Koraleski purchased 500 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was bought at an average cost of $198.37 per share, with a total value of $99,185.00. Following the transaction, the director now directly owns 1,439 shares in the company, valued at approximately $285,454.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.45% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 5th were given a dividend of $0.44 per share. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Thursday, August 31st. Martin Marietta Materials’s dividend payout ratio (DPR) is 25.29%.
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.
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