Equities research analysts expect Martin Marietta Materials, Inc. (NYSE:MLM) to announce $921.47 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Martin Marietta Materials’ earnings. The highest sales estimate is $944.00 million and the lowest is $900.80 million. Martin Marietta Materials reported sales of $891.00 million in the same quarter last year, which indicates a positive year over year growth rate of 3.4%. The business is expected to report its next quarterly earnings report on Tuesday, May 4th.
On average, analysts expect that Martin Marietta Materials will report full-year sales of $4.77 billion for the current financial year, with estimates ranging from $4.62 billion to $4.97 billion. For the next year, analysts anticipate that the company will report sales of $5.13 billion, with estimates ranging from $4.94 billion to $5.35 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Martin Marietta Materials.
Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, February 9th. The construction company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.65. Martin Marietta Materials had a return on equity of 12.22% and a net margin of 14.38%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the company posted $2.09 EPS. Martin Marietta Materials’s revenue for the quarter was up 7.2% on a year-over-year basis.
A number of research firms have recently weighed in on MLM. DA Davidson boosted their target price on Martin Marietta Materials from $230.00 to $335.00 and gave the company a “neutral” rating in a research note on Wednesday, February 10th. Raymond James started coverage on Martin Marietta Materials in a research report on Wednesday, February 3rd. They set a “market perform” rating for the company. Stifel Nicolaus upped their price target on Martin Marietta Materials from $284.00 to $310.00 and gave the company a “buy” rating in a research report on Tuesday, December 15th. Stephens raised Martin Marietta Materials from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, January 6th. Finally, Exane BNP Paribas lowered Martin Marietta Materials from an “outperform” rating to a “neutral” rating and set a $360.00 price target for the company. in a research report on Wednesday, January 27th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Martin Marietta Materials presently has an average rating of “Hold” and a consensus price target of $273.75.
In related news, CEO C Howard Nye sold 3,052 shares of the company’s stock in a transaction that occurred on Tuesday, March 9th. The stock was sold at an average price of $335.06, for a total value of $1,022,603.12. Following the sale, the chief executive officer now owns 101,226 shares in the company, valued at approximately $33,916,783.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.73% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Select Equity Group L.P. grew its stake in shares of Martin Marietta Materials by 3.2% in the 4th quarter. Select Equity Group L.P. now owns 3,527,000 shares of the construction company’s stock worth $1,001,562,000 after buying an additional 110,214 shares during the last quarter. Aristotle Capital Management LLC boosted its stake in Martin Marietta Materials by 4.8% during the 4th quarter. Aristotle Capital Management LLC now owns 3,279,463 shares of the construction company’s stock valued at $925,821,000 after purchasing an additional 150,641 shares during the last quarter. Morgan Stanley boosted its stake in Martin Marietta Materials by 20.8% during the 4th quarter. Morgan Stanley now owns 2,908,835 shares of the construction company’s stock valued at $826,022,000 after purchasing an additional 501,135 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Martin Marietta Materials by 0.5% during the 4th quarter. Baillie Gifford & Co. now owns 2,701,126 shares of the construction company’s stock valued at $767,039,000 after purchasing an additional 12,150 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Martin Marietta Materials by 8.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,449,811 shares of the construction company’s stock valued at $411,703,000 after purchasing an additional 112,950 shares during the last quarter. Institutional investors own 97.77% of the company’s stock.
Shares of NYSE MLM traded up $1.76 during midday trading on Friday, reaching $347.80. The company had a trading volume of 12,440 shares, compared to its average volume of 562,393. Martin Marietta Materials has a one year low of $151.94 and a one year high of $353.56. The company has a quick ratio of 1.85, a current ratio of 3.27 and a debt-to-equity ratio of 0.46. The firm’s fifty day moving average price is $336.21 and its 200-day moving average price is $291.05. The stock has a market cap of $21.66 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 5.79 and a beta of 0.69.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Monday, March 1st were paid a $0.57 dividend. The ex-dividend date of this dividend was Friday, February 26th. This represents a $2.28 annualized dividend and a dividend yield of 0.66%. Martin Marietta Materials’s payout ratio is currently 23.41%.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement used 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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