Analysts Offer Predictions for Martin Marietta Materials, Inc.’s Q3 2021 Earnings (NYSE:MLM)

Martin Marietta Materials, Inc. (NYSE:MLM) – Investment analysts at Truist Securiti upped their Q3 2021 earnings estimates for Martin Marietta Materials in a research report issued 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 forecast 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.

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

Martin Marietta Materials stock opened at $348.97 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.17 and a current ratio of 2.13. Martin Marietta Materials has a 52 week low of $239.70 and a 52 week high of $391.76. The stock has a market capitalization of $21.77 billion, a P/E ratio of 28.39 and a beta of 0.63. The stock has a fifty day moving average of $366.01 and a 200-day moving average of $359.03.

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

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Reilly Financial Advisors LLC lifted its stake in shares of Martin Marietta Materials by 63.0% in the 2nd quarter. Reilly Financial Advisors LLC now owns 75 shares of the construction company’s stock valued at $26,000 after purchasing an additional 29 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in shares of Martin Marietta Materials by 464.3% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 79 shares of the construction company’s stock valued at $28,000 after purchasing an additional 65 shares during the period. Zions Bancorporation N.A. acquired a new position in shares of Martin Marietta Materials in the 1st quarter valued at about $29,000. AllSquare Wealth Management LLC lifted its stake in shares of Martin Marietta Materials by 100.0% in the 2nd quarter. AllSquare Wealth Management LLC now owns 100 shares of the construction company’s stock valued at $35,000 after purchasing an additional 50 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of Martin Marietta Materials by 51.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 121 shares of the construction company’s stock valued at $41,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 91.77% of the company’s stock.

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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