Q3 2021 EPS Estimates for Martin Marietta Materials, Inc. (NYSE:MLM) Increased by Analyst

Martin Marietta Materials, Inc. (NYSE:MLM) – Investment analysts at Truist Securiti increased their Q3 2021 EPS estimates for Martin Marietta Materials in a research note issued to investors on Tuesday, October 12th. Truist Securiti analyst K. Hughes now expects that the construction company will post earnings per share of $4.31 for the quarter, up from their previous estimate of $4.25. Truist Securiti also issued estimates for Martin Marietta Materials’ Q4 2021 earnings at $3.15 EPS, FY2021 earnings at $12.31 EPS, Q3 2022 earnings at $5.36 EPS, Q4 2022 earnings at $3.87 EPS and FY2022 earnings at $14.77 EPS.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, July 29th. The construction company reported $3.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.91 by ($0.10). The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. Martin Marietta Materials had a net margin of 15.81% and a return on equity of 13.18%. During the same period in the previous year, the firm earned $3.49 EPS.

Several other brokerages also recently weighed in on MLM. DA Davidson upped their target price on shares of Martin Marietta Materials from $350.00 to $400.00 and gave the stock a “neutral” rating in a report on Monday, August 2nd. Morgan Stanley dropped their target price on shares of Martin Marietta Materials from $405.00 to $391.00 and set an “overweight” rating for the company in a report on Wednesday. Loop Capital raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $390.00 target price for the company in a report on Wednesday, October 6th. Finally, Jefferies Financial Group started coverage on shares of Martin Marietta Materials in a report on Wednesday, August 25th. They issued a “buy” rating and a $440.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $350.25.

Shares of Martin Marietta Materials stock opened at $348.97 on Thursday. The company has a market capitalization of $21.77 billion, a P/E ratio of 28.39 and a beta of 0.63. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.17 and a current ratio of 2.13. The company has a fifty day moving average of $366.01 and a 200 day moving average of $359.03. Martin Marietta Materials has a fifty-two week low of $239.70 and a fifty-two week high of $391.76.

Several hedge funds and other institutional investors have recently made changes to their positions in MLM. Reilly Financial Advisors LLC raised its position in Martin Marietta Materials by 63.0% in the 2nd quarter. Reilly Financial Advisors LLC now owns 75 shares of the construction company’s stock worth $26,000 after purchasing an additional 29 shares during the period. Profund Advisors LLC grew its stake in Martin Marietta Materials by 4.0% in the 2nd quarter. Profund Advisors LLC now owns 853 shares of the construction company’s stock worth $300,000 after acquiring an additional 33 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Martin Marietta Materials by 0.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 5,200 shares of the construction company’s stock worth $1,829,000 after acquiring an additional 34 shares in the last quarter. Berman Capital Advisors LLC grew its stake in Martin Marietta Materials by 14.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 286 shares of the construction company’s stock worth $100,000 after acquiring an additional 37 shares in the last quarter. Finally, Welch Group LLC grew its stake in Martin Marietta Materials by 5.1% in the 2nd quarter. Welch Group LLC now owns 831 shares of the construction company’s stock worth $292,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 91.77% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Wednesday, September 1st were paid a $0.61 dividend. The ex-dividend date was Tuesday, August 31st. This represents a $2.44 annualized dividend and a yield of 0.70%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.57. Martin Marietta Materials’s payout ratio is presently 21.14%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregates products only.

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Earnings History and Estimates for Martin Marietta Materials (NYSE:MLM)

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