Martin Marietta Materials Inc. (NYSE:MLM) – Jefferies Group decreased their Q4 2016 earnings estimates for Martin Marietta Materials in a research note issued to investors on Monday. Jefferies Group analyst M. Betts now anticipates that the brokerage will earn $1.43 per share for the quarter, down from their previous forecast of $1.64. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Martin Marietta Materials’ FY2017 earnings at $9.25 EPS.
MLM has been the topic of several other research reports. Zacks Investment Research downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Goldman Sachs Group Inc. cut Martin Marietta Materials from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $210.00 to $202.00 in a report on Tuesday. DA Davidson reiterated a “hold” rating and issued a $210.00 target price on shares of Martin Marietta Materials in a report on Sunday. Finally, Bank of America Corp. reiterated a “buy” rating on shares of Martin Marietta Materials in a report on Friday, June 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $203.00.
Martin Marietta Materials (NYSE:MLM) traded up 0.25% during midday trading on Wednesday, reaching $169.61. The company had a trading volume of 348,586 shares. The company has a market capitalization of $10.76 billion, a P/E ratio of 30.22 and a beta of 1.36. The firm has a 50-day moving average of $180.77 and a 200 day moving average of $183.50. Martin Marietta Materials has a 1-year low of $108.31 and a 1-year high of $206.36.
Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.02 by $0.12. Martin Marietta Materials had a return on equity of 9.36% and a net margin of 9.96%. The business earned $915.40 million during the quarter, compared to the consensus estimate of $953.30 million. During the same quarter in the previous year, the business posted $1.22 earnings per share. Martin Marietta Materials’s quarterly revenue was up 7.7% compared to the same quarter last year.
A number of large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in Martin Marietta Materials by 1.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 530 shares of the company’s stock worth $101,000 after buying an additional 5 shares during the period. Checchi Capital Advisers LLC boosted its stake in Martin Marietta Materials by 5.9% in the second quarter. Checchi Capital Advisers LLC now owns 686 shares of the company’s stock worth $132,000 after buying an additional 38 shares during the period. BlueMountain Capital Management LLC boosted its stake in Martin Marietta Materials by 1,196.3% in the second quarter. BlueMountain Capital Management LLC now owns 700 shares of the company’s stock worth $134,000 after buying an additional 646 shares during the period. Bessemer Group Inc. acquired a new stake in Martin Marietta Materials during the second quarter worth approximately $134,000. Finally, Carroll Financial Associates Inc. boosted its stake in Martin Marietta Materials by 1.4% in the third quarter. Carroll Financial Associates Inc. now owns 750 shares of the company’s stock worth $134,000 after buying an additional 10 shares during the period. Institutional investors own 97.18% of the company’s stock.
In other Martin Marietta Materials news, Director David G. Maffucci sold 6,779 shares of the stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $199.90, for a total value of $1,355,122.10. Following the completion of the sale, the director now directly owns 20,326 shares in the company, valued at $4,063,167.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Roselyn R. Bar sold 5,830 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $199.98, for a total value of $1,165,883.40. Following the completion of the sale, the executive vice president now owns 42,588 shares of the company’s stock, valued at $8,516,748.24. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 1st were paid a dividend of $0.42 per share. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Tuesday, August 30th. Martin Marietta Materials’s dividend payout ratio is 30.05%.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand and gravel) for the construction industry, used for the construction of infrastructure, non-residential, and residential projects. The Company operates through three businesses: Aggregates Business, Cement Business and Magnesia Specialties Business.
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