Martin Marietta Materials, Inc. to Post Q4 2017 Earnings of $1.83 Per Share, SunTrust Banks Forecasts (MLM)
Martin Marietta Materials, Inc. (NYSE:MLM) – Investment analysts at SunTrust Banks boosted their Q4 2017 earnings estimates for Martin Marietta Materials in a research note issued on Friday. SunTrust Banks analyst R. Seth now forecasts that the construction company will post earnings per share of $1.83 for the quarter, up from their prior estimate of $1.81. SunTrust Banks also issued estimates for Martin Marietta Materials’ Q2 2018 earnings at $2.55 EPS, Q4 2018 earnings at $2.21 EPS and FY2020 earnings at $11.78 EPS.
Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.38 by ($0.13). The company had revenue of $996.30 million during the quarter, compared to analyst estimates of $1.01 billion. Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.90 EPS. COPYRIGHT VIOLATION NOTICE: This piece of content was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2017/09/19/martin-marietta-materials-inc-to-post-q4-2017-earnings-of-1-83-per-share-suntrust-banks-forecasts-mlm.html.
Several other analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday, September 4th. BidaskClub upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Finally, Jefferies Group LLC set a $166.00 target price on shares of Martin Marietta Materials and gave the stock a “hold” rating in a report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Martin Marietta Materials has a consensus rating of “Hold” and an average price target of $220.57.
Martin Marietta Materials (MLM) opened at 202.40 on Monday. The firm has a market cap of $12.72 billion, a price-to-earnings ratio of 29.13 and a beta of 1.15. Martin Marietta Materials has a 1-year low of $167.06 and a 1-year high of $244.32. The firm has a 50-day moving average of $206.71 and a 200 day moving average of $218.95.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 5th will be issued a dividend of $0.44 per share. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 0.87%. The ex-dividend date is Thursday, August 31st. Martin Marietta Materials’s dividend payout ratio (DPR) is 25.29%.
In other Martin Marietta Materials news, Director John J. Koraleski acquired 500 shares of the stock in a transaction dated Friday, August 18th. The shares were bought at an average cost of $198.37 per share, for a total transaction of $99,185.00. Following the completion of the acquisition, the director now directly owns 1,439 shares of the company’s stock, valued at $285,454.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.45% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Sun Life Financial INC raised its holdings in shares of Martin Marietta Materials by 6,442.9% in the second quarter. Sun Life Financial INC now owns 458 shares of the construction company’s stock valued at $102,000 after purchasing an additional 451 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Martin Marietta Materials by 130.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock valued at $120,000 after purchasing an additional 305 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Martin Marietta Materials in the second quarter valued at approximately $128,000. Northwest Investment Counselors LLC acquired a new stake in shares of Martin Marietta Materials in the second quarter valued at approximately $134,000. Finally, FNY Partners Fund LP acquired a new stake in shares of Martin Marietta Materials in the first quarter valued at approximately $174,000. Institutional investors own 95.78% of the company’s stock.
About Martin Marietta Materials
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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