Wall Street analysts expect Martin Marietta Materials, Inc. (NYSE:MLM) to report sales of $1.32 billion for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Martin Marietta Materials’ earnings. The highest sales estimate is $1.34 billion and the lowest is $1.28 billion. Martin Marietta Materials reported sales of $1.19 billion in the same quarter last year, which indicates a positive year over year growth rate of 10.9%. The company is expected to issue its next earnings results on Tuesday, July 27th.
On average, analysts expect that Martin Marietta Materials will report full year sales of $4.89 billion for the current year, with estimates ranging from $4.75 billion to $5.05 billion. For the next fiscal year, analysts expect that the firm will post sales of $5.28 billion, with estimates ranging from $5.12 billion to $5.44 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Martin Marietta Materials.
Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, May 4th. The construction company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.54. The company had revenue of $982.40 million for the quarter, compared to analyst estimates of $968.53 million. Martin Marietta Materials had a net margin of 15.99% and a return on equity of 13.18%. Martin Marietta Materials’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 EPS.
MLM has been the topic of a number of research reports. Barclays upped their price target on shares of Martin Marietta Materials from $275.00 to $380.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 4th. DA Davidson upped their price target on shares of Martin Marietta Materials from $230.00 to $335.00 and gave the company a “neutral” rating in a research note on Wednesday, February 10th. Morgan Stanley upped their price target on shares of Martin Marietta Materials from $372.00 to $408.00 and gave the company an “overweight” rating in a research note on Monday, May 10th. JPMorgan Chase & Co. upped their price target on shares of Martin Marietta Materials from $335.00 to $385.00 and gave the company a “neutral” rating in a research note on Wednesday, May 26th. Finally, Raymond James initiated coverage on shares of Martin Marietta Materials in a research note on Wednesday, February 3rd. They issued a “market perform” rating on the stock. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $298.63.
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In related news, CEO C Howard Nye sold 3,052 shares of the stock in a transaction that occurred on Tuesday, March 9th. The shares were sold at an average price of $335.06, for a total value of $1,022,603.12. Following the completion of the transaction, the chief executive officer now owns 101,226 shares of the company’s stock, valued at approximately $33,916,783.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.65% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Schroder Investment Management Group lifted its stake in Martin Marietta Materials by 144.6% in the 1st quarter. Schroder Investment Management Group now owns 3,165 shares of the construction company’s stock valued at $1,063,000 after purchasing an additional 1,871 shares during the last quarter. Physicians Financial Services Inc. acquired a new position in Martin Marietta Materials in the 1st quarter valued at approximately $272,000. B. Metzler seel. Sohn & Co. Holding AG increased its position in Martin Marietta Materials by 11.3% in the 1st quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 1,491 shares of the construction company’s stock valued at $501,000 after acquiring an additional 151 shares during the period. Baker Tilly Wealth Management LLC acquired a new position in Martin Marietta Materials in the 1st quarter valued at approximately $707,000. Finally, Virtu Financial LLC acquired a new position in Martin Marietta Materials in the 1st quarter valued at approximately $1,995,000. 91.93% of the stock is owned by institutional investors and hedge funds.
Martin Marietta Materials stock opened at $363.65 on Tuesday. The firm has a market capitalization of $22.68 billion, a PE ratio of 29.88, a P/E/G ratio of 2.40 and a beta of 0.65. The company’s 50-day moving average is $361.68 and its 200-day moving average is $319.15. Martin Marietta Materials has a fifty-two week low of $188.24 and a fifty-two week high of $383.71. 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 also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 1st will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.63%. The ex-dividend date is Friday, May 28th. Martin Marietta Materials’s payout ratio is 19.76%.
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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