Martin Marietta Materials, Inc. (NYSE:MLM) – Equities researchers at Truist Securiti cut their Q2 2021 EPS estimates for Martin Marietta Materials in a report released on Tuesday, July 13th. Truist Securiti analyst K. Hughes now anticipates that the construction company will post earnings of $3.76 per share for the quarter, down from their prior estimate of $3.81. Truist Securiti also issued estimates for Martin Marietta Materials’ FY2021 earnings at $12.41 EPS and Q1 2022 earnings at $1.36 EPS. Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, May 4th. The construction company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.54. The firm had revenue of $982.40 million during the quarter, compared to analysts’ expectations of $968.53 million. Martin Marietta Materials had a return on equity of 13.18% and a net margin of 15.99%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS.
Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Martin Marietta Materials from $335.00 to $385.00 and gave the company a “neutral” rating in a report on Wednesday, May 26th. Jefferies Financial Group raised Martin Marietta Materials from a “hold” rating to a “buy” rating and increased their price target for the stock from $360.00 to $424.00 in a research report on Friday, June 25th. Morgan Stanley raised their target price on shares of Martin Marietta Materials from $372.00 to $408.00 and gave the company an “overweight” rating in a report on Monday, May 10th. Finally, Barclays upped their price objective on Martin Marietta Materials from $275.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 28th. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $330.15.
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NYSE:MLM opened at $355.70 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.73 and a quick ratio of 2.20. The business’s 50 day moving average is $358.38. Martin Marietta Materials has a twelve month low of $201.04 and a twelve month high of $383.71. The firm has a market cap of $22.19 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 2.25 and a beta of 0.65.
A number of institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. lifted its stake in Martin Marietta Materials by 40.2% in the first quarter. Baillie Gifford & Co. now owns 3,786,796 shares of the construction company’s stock worth $1,271,682,000 after acquiring an additional 1,085,670 shares during the period. Amundi Asset Management US Inc. grew its stake in shares of Martin Marietta Materials by 763.0% in the first quarter. Amundi Asset Management US Inc. now owns 748,889 shares of the construction company’s stock worth $251,490,000 after acquiring an additional 662,115 shares during the last quarter. Norges Bank purchased a new stake in Martin Marietta Materials during the 4th quarter valued at about $156,528,000. Morgan Stanley increased its position in shares of Martin Marietta Materials by 20.8% during the fourth quarter. Morgan Stanley now owns 2,908,835 shares of the construction company’s stock valued at $826,022,000 after acquiring an additional 501,135 shares in the last quarter. Finally, Artisan Partners Limited Partnership bought a new stake in shares of Martin Marietta Materials in the 1st quarter worth $113,608,000. 91.88% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 30th. Investors of record on Tuesday, June 1st were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Friday, May 28th. Martin Marietta Materials’s dividend payout ratio is currently 19.76%.
About Martin Marietta Materials
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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