Q3 2016 EPS Estimates for Martin Marietta Materials Inc. (MLM) Decreased by Jefferies Group
Martin Marietta Materials Inc. (NYSE:MLM) – Stock analysts at Jefferies Group lowered their Q3 2016 earnings per share estimates for shares of Martin Marietta Materials in a research note issued to investors on Monday. Jefferies Group analyst M. Betts now forecasts that the firm will post earnings of $2.70 per share for the quarter, down from their prior forecast of $2.87. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Martin Marietta Materials’ FY2016 earnings at $6.74 EPS.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.02 by $0.12. The firm earned $915.40 million during the quarter, compared to the consensus estimate of $953.30 million. Martin Marietta Materials had a return on equity of 9.36% and a net margin of 9.96%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 EPS.
A number of other analysts have also commented on MLM. Zacks Investment Research downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Bank of America Corp. restated a “buy” rating on shares of Martin Marietta Materials in a report on Friday, June 17th. Goldman Sachs Group Inc. downgraded Martin Marietta Materials from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $210.00 to $202.00 in a report on Tuesday. Finally, DA Davidson reiterated a “hold” rating and set a $210.00 price target on shares of Martin Marietta Materials in a report on Sunday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $203.00.
Martin Marietta Materials (NYSE:MLM) opened at 169.89 on Tuesday. The stock has a market capitalization of $10.78 billion, a price-to-earnings ratio of 30.27 and a beta of 1.36. Martin Marietta Materials has a 12-month low of $108.31 and a 12-month high of $206.36. The firm has a 50-day moving average of $180.04 and a 200 day moving average of $183.40.
Institutional investors have recently added to or reduced their stakes in the stock. Capstone Asset Management Co. boosted its stake in Martin Marietta Materials by 1.8% in the third quarter. Capstone Asset Management Co. now owns 10,454 shares of the company’s stock valued at $1,872,000 after buying an additional 184 shares during the last quarter. Atria Investments LLC boosted its stake in Martin Marietta Materials by 35.9% in the third quarter. Atria Investments LLC now owns 1,561 shares of the company’s stock valued at $280,000 after buying an additional 412 shares during the last quarter. First National Bank of Omaha boosted its stake in Martin Marietta Materials by 35.8% in the third quarter. First National Bank of Omaha now owns 27,388 shares of the company’s stock valued at $4,905,000 after buying an additional 7,224 shares during the last quarter. Creative Planning boosted its stake in Martin Marietta Materials by 9.4% in the third quarter. Creative Planning now owns 1,893 shares of the company’s stock valued at $339,000 after buying an additional 163 shares during the last quarter. 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 valued at $134,000 after buying an additional 10 shares during the last quarter. Institutional investors and hedge funds own 97.18% of the company’s stock.
In other news, Director David G. Maffucci sold 6,779 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $199.90, for a total transaction of $1,355,122.10. Following the completion of the transaction, the director now directly owns 20,326 shares in the company, valued at approximately $4,063,167.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Roselyn R. Bar sold 5,830 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $199.98, for a total value of $1,165,883.40. Following the transaction, 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. 1.06% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 1st were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, August 30th. 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%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 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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