Equities analysts expect Martin Marietta Materials, Inc. (NYSE:MLM) to report sales of $855.88 million for the current quarter, Zacks reports. Five analysts have made estimates for Martin Marietta Materials’ earnings, with the highest sales estimate coming in at $913.00 million and the lowest estimate coming in at $804.00 million. Martin Marietta Materials posted sales of $802.00 million in the same quarter last year, which suggests a positive year over year growth rate of 6.7%. The company is expected to issue its next earnings report on Tuesday, May 14th.
On average, 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 anticipate that the business will post sales of $4.71 billion, with estimates ranging from $4.54 billion to $4.90 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Martin Marietta Materials.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, February 12th. The construction company reported $1.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.21). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. Martin Marietta Materials had a return on equity of 10.31% and a net margin of 11.07%. Martin Marietta Materials’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.88 earnings per share.
MLM has been the topic of several recent research reports. SunTrust Banks reduced their price target on Martin Marietta Materials to $205.00 and set a “buy” rating on the stock in a research note on Thursday, November 15th. Citigroup reduced their price target on Martin Marietta Materials from $231.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, January 3rd. Deutsche Bank initiated coverage on Martin Marietta Materials in a research note on Thursday, January 3rd. They issued a “buy” rating and a $198.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating on shares of Martin Marietta Materials in a research note on Wednesday, December 19th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $232.00 price target on shares of Martin Marietta Materials in a research note on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $217.45.
MLM stock traded up $1.80 during midday trading on Friday, hitting $193.50. The stock had a trading volume of 649,900 shares, compared to its average volume of 761,771. The stock has a market cap of $11.97 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 1.70 and a beta of 1.12. Martin Marietta Materials has a 52-week low of $150.75 and a 52-week high of $232.88. The company has a quick ratio of 0.89, a current ratio of 1.74 and a debt-to-equity ratio of 0.55.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 4th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 0.99%. The ex-dividend date is Friday, March 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 23.73%.
In other Martin Marietta Materials news, Director Sue W. Cole sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $195.07, for a total value of $292,605.00. Following the sale, the director now directly owns 20,933 shares of the company’s stock, valued at $4,083,400.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald A. Mccunniff sold 660 shares of the business’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $190.90, for a total value of $125,994.00. Following the completion of the sale, the senior vice president now directly owns 15,349 shares in the company, valued at $2,930,124.10. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in MLM. Iridian Asset Management LLC CT lifted its holdings in shares of Martin Marietta Materials by 5.3% during the third quarter. Iridian Asset Management LLC CT now owns 1,901,719 shares of the construction company’s stock valued at $346,018,000 after purchasing an additional 94,983 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Martin Marietta Materials by 10.5% during the third quarter. Eagle Asset Management Inc. now owns 451,492 shares of the construction company’s stock valued at $82,148,000 after purchasing an additional 42,919 shares in the last quarter. Quantamental Technologies LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter valued at $481,000. FDx Advisors Inc. lifted its holdings in shares of Martin Marietta Materials by 18.4% during the third quarter. FDx Advisors Inc. now owns 7,801 shares of the construction company’s stock valued at $1,419,000 after purchasing an additional 1,212 shares in the last quarter. Finally, Ironsides Asset Advisors LLC bought a new position in shares of Martin Marietta Materials during the third quarter valued at $457,000.
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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