$2.84 EPS Expected for Martin Marietta Materials, Inc. (MLM) This Quarter

Wall Street brokerages expect Martin Marietta Materials, Inc. (NYSE:MLM) to announce $2.84 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Martin Marietta Materials’ earnings, with estimates ranging from $2.68 to $3.21. Martin Marietta Materials posted earnings of $2.25 per share during the same quarter last year, which would suggest a positive year over year growth rate of 26.2%. The firm is expected to report its next earnings report on Tuesday, August 7th.

According to Zacks, analysts expect that Martin Marietta Materials will report full-year earnings of $9.22 per share for the current year, with EPS estimates ranging from $9.03 to $9.35. For the next fiscal year, analysts forecast that the company will report earnings of $11.24 per share, with EPS estimates ranging from $10.44 to $11.97. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow Martin Marietta Materials.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, May 8th. The construction company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.09). The business had revenue of $802.00 million for the quarter, compared to the consensus estimate of $822.23 million. Martin Marietta Materials had a return on equity of 9.47% and a net margin of 17.36%. Martin Marietta Materials’s revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 earnings per share.

Several equities analysts have recently weighed in on the stock. Citigroup set a $262.00 price target on shares of Martin Marietta Materials and gave the stock a “buy” rating in a research note on Tuesday, May 15th. ValuEngine raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Stephens reaffirmed a “hold” rating and set a $233.00 price target on shares of Martin Marietta Materials in a research note on Friday, April 13th. SunTrust Banks cut their price objective on Martin Marietta Materials to $226.00 and set a “buy” rating for the company in a report on Thursday, May 3rd. They noted that the move was a valuation call. Finally, Bank of America raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $229.00 price objective for the company in a report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $238.13.

In other news, Director Michael J. Quillen sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $212.50, for a total value of $637,500.00. Following the completion of the sale, the director now owns 20,283 shares of the company’s stock, valued at approximately $4,310,137.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman C Howard Nye sold 8,409 shares of the stock in a transaction that occurred on Wednesday, May 9th. The shares were sold at an average price of $212.66, for a total value of $1,788,257.94. Following the completion of the sale, the chairman now directly owns 146,977 shares of the company’s stock, valued at approximately $31,256,128.82. The disclosure for this sale can be found here. In the last three months, insiders sold 21,633 shares of company stock valued at $4,682,373. 0.75% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp lifted its holdings in Martin Marietta Materials by 27.6% during the 4th quarter. M&T Bank Corp now owns 5,335 shares of the construction company’s stock valued at $1,179,000 after purchasing an additional 1,154 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Martin Marietta Materials by 3.6% during the 4th quarter. California Public Employees Retirement System now owns 121,333 shares of the construction company’s stock valued at $26,819,000 after purchasing an additional 4,175 shares during the last quarter. Cetera Advisors LLC lifted its holdings in Martin Marietta Materials by 26.5% during the 4th quarter. Cetera Advisors LLC now owns 1,342 shares of the construction company’s stock valued at $295,000 after purchasing an additional 281 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Martin Marietta Materials by 8.0% during the 4th quarter. Wells Fargo & Company MN now owns 199,825 shares of the construction company’s stock valued at $44,169,000 after purchasing an additional 14,885 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Martin Marietta Materials by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 78,304 shares of the construction company’s stock valued at $17,309,000 after purchasing an additional 774 shares during the last quarter. 99.82% of the stock is owned by institutional investors.

Shares of Martin Marietta Materials opened at $230.68 on Tuesday, according to MarketBeat. The company has a market cap of $14.43 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 1.73 and a beta of 1.17. Martin Marietta Materials has a twelve month low of $189.26 and a twelve month high of $241.33. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.00 and a quick ratio of 3.06.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 1st will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 31st. Martin Marietta Materials’s payout ratio is presently 24.51%.

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 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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