Martin Marietta Materials, Inc. (NYSE:MLM) – Jefferies Financial Group raised their Q2 2021 earnings per share (EPS) estimates for Martin Marietta Materials in a research note issued to investors on Wednesday, May 5th. Jefferies Financial Group analyst P. Ng now anticipates that the construction company will post earnings per share of $4.04 for the quarter, up from their prior forecast of $3.91. Jefferies Financial Group also issued estimates for Martin Marietta Materials’ Q3 2021 earnings at $4.55 EPS and Q4 2021 earnings at $2.79 EPS.
Several other brokerages have also recently issued reports on MLM. Exane BNP Paribas cut shares of Martin Marietta Materials from an “outperform” rating to a “neutral” rating and set a $360.00 price target on the stock. in a research report on Wednesday, January 27th. DA Davidson upped their price objective on shares of Martin Marietta Materials from $230.00 to $335.00 and gave the stock a “neutral” rating in a report on Wednesday, February 10th. Raymond James assumed coverage on shares of Martin Marietta Materials in a report on Wednesday, February 3rd. They issued a “market perform” rating on the stock. Morgan Stanley upped their price objective on shares of Martin Marietta Materials from $356.00 to $372.00 and gave the stock an “overweight” rating in a report on Monday, April 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Martin Marietta Materials from $310.00 to $335.00 and gave the stock a “neutral” rating in a report on Friday, January 22nd. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $287.12.
Shares of NYSE:MLM traded up $0.89 during midday trading on Friday, hitting $373.45. 1,187 shares of the stock traded hands, compared to its average volume of 514,994. Martin Marietta Materials has a one year low of $151.94 and a one year high of $376.13. 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 business’s 50 day moving average is $344.71 and its two-hundred day moving average is $305.46. The stock has a market capitalization of $23.29 billion, a PE ratio of 34.82, a P/E/G ratio of 5.79 and a beta of 0.69. Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, May 4th. The construction company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.50 by $0.54. The firm had revenue of $982.40 million during the quarter, compared to the consensus estimate of $968.53 million. Martin Marietta Materials had a net margin of 14.38% and a return on equity of 12.22%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 earnings per share.
Several hedge funds have recently made changes to their positions in the company. Summit Place Financial Advisors LLC bought a new stake in shares of Martin Marietta Materials during the 1st quarter valued at $1,607,000. Fifth Third Bancorp raised its position in shares of Martin Marietta Materials by 53.4% during the 1st quarter. Fifth Third Bancorp now owns 589 shares of the construction company’s stock valued at $198,000 after purchasing an additional 205 shares during the period. Arizona State Retirement System raised its position in shares of Martin Marietta Materials by 0.6% during the 1st quarter. Arizona State Retirement System now owns 17,955 shares of the construction company’s stock valued at $6,030,000 after purchasing an additional 99 shares during the period. USA Financial Portformulas Corp raised its position in shares of Martin Marietta Materials by 162,450.0% during the 1st quarter. USA Financial Portformulas Corp now owns 3,251 shares of the construction company’s stock valued at $1,092,000 after purchasing an additional 3,249 shares during the period. Finally, Exencial Wealth Advisors LLC raised its position in shares of Martin Marietta Materials by 5.3% during the 1st quarter. Exencial Wealth Advisors LLC now owns 26,806 shares of the construction company’s stock valued at $9,002,000 after purchasing an additional 1,342 shares during the period. Hedge funds and other institutional investors own 97.77% of the company’s stock.
In other Martin Marietta Materials 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 transaction, the chief executive officer now directly owns 101,226 shares in the company, valued at $33,916,783.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by company insiders.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Monday, March 1st were given a dividend of $0.57 per share. The ex-dividend date was Friday, February 26th. This represents a $2.28 dividend on an annualized basis and a yield of 0.61%. Martin Marietta Materials’s dividend payout ratio (DPR) is 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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