Martin Marietta Materials, Inc. (NYSE:MLM) – Analysts at SunTrust Banks boosted their Q3 2019 earnings estimates for Martin Marietta Materials in a research note issued to investors on Tuesday, April 30th, according to Zacks Investment Research. SunTrust Banks analyst R. Seth now forecasts that the construction company will post earnings of $3.36 per share for the quarter, up from their previous estimate of $3.31. SunTrust Banks also issued estimates for Martin Marietta Materials’ FY2019 earnings at $9.17 EPS, Q2 2020 earnings at $3.59 EPS and FY2020 earnings at $10.51 EPS.
Several other brokerages have also weighed in on MLM. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. Citigroup upped their target price on shares of Martin Marietta Materials from $239.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Bank of America lowered shares of Martin Marietta Materials from a “neutral” rating to an “underperform” rating in a research report on Tuesday, April 16th. Jefferies Financial Group restated a “buy” rating and set a $232.00 target price on shares of Martin Marietta Materials in a research report on Tuesday, January 29th. Finally, Stephens upgraded shares of Martin Marietta Materials from an “equal” rating to an “overweight” rating in a research report on Friday, February 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Martin Marietta Materials presently has an average rating of “Buy” and an average target price of $219.93.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.39. Martin Marietta Materials had a net margin of 11.48% and a return on equity of 10.82%. The business had revenue of $938.96 million for the quarter, compared to analyst estimates of $881.82 million. During the same period in the previous year, the business posted $0.16 earnings per share. The business’s revenue was up 17.1% compared to the same quarter last year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc grew its holdings in Martin Marietta Materials by 0.4% during the 3rd quarter. Vanguard Group Inc now owns 6,653,036 shares of the construction company’s stock valued at $1,210,520,000 after purchasing an additional 28,832 shares in the last quarter. BlackRock Inc. grew its holdings in Martin Marietta Materials by 0.9% during the 4th quarter. BlackRock Inc. now owns 3,945,492 shares of the construction company’s stock worth $678,110,000 after acquiring an additional 34,666 shares in the last quarter. Morgan Stanley grew its holdings in Martin Marietta Materials by 5.0% during the 3rd quarter. Morgan Stanley now owns 3,665,846 shares of the construction company’s stock worth $666,999,000 after acquiring an additional 173,731 shares in the last quarter. Egerton Capital UK LLP grew its holdings in Martin Marietta Materials by 40.6% during the 1st quarter. Egerton Capital UK LLP now owns 2,204,702 shares of the construction company’s stock worth $443,542,000 after acquiring an additional 636,338 shares in the last quarter. Finally, Aristotle Capital Management LLC grew its holdings in Martin Marietta Materials by 3.4% during the 1st quarter. Aristotle Capital Management LLC now owns 1,966,837 shares of the construction company’s stock worth $395,688,000 after acquiring an additional 64,192 shares in the last quarter.
In related news, Chairman C Howard Nye sold 14,668 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $220.48, for a total transaction of $3,234,000.64. Following the transaction, the chairman now owns 167,019 shares of the company’s stock, valued at $36,824,349.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Donald A. Mccunniff sold 660 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $190.90, for a total transaction of $125,994.00. Following the transaction, the senior vice president now directly owns 15,349 shares in the company, valued at approximately $2,930,124.10. The disclosure for this sale can be found here. Insiders have sold 20,011 shares of company stock worth $4,353,464 in the last three months. Insiders own 0.73% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Friday, May 31st. Martin Marietta Materials’s payout ratio is 23.73%.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; Portland and specialty cement for use 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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