Martin Marietta Materials, Inc. (MLM) Stock Rating Reaffirmed by Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of Martin Marietta Materials, Inc. (NYSE:MLM) in a research note released on Wednesday. The brokerage currently has a $240.00 price objective on the construction company’s stock. Jefferies Group also issued estimates for Martin Marietta Materials’ Q4 2017 earnings at $1.77 EPS, Q1 2018 earnings at $0.97 EPS, Q2 2018 earnings at $2.71 EPS, Q3 2018 earnings at $3.03 EPS, Q4 2018 earnings at $2.40 EPS, FY2018 earnings at $9.11 EPS and FY2019 earnings at $11.09 EPS.
Several other equities analysts have also recently commented on MLM. BidaskClub raised shares of Martin Marietta Materials from a sell rating to a hold rating in a research note on Thursday, June 15th. Zacks Investment Research lowered shares of Martin Marietta Materials from a buy rating to a hold rating in a research report on Friday, July 14th. Finally, Citigroup Inc. reiterated a buy rating and set a $260.00 target price (down from $270.00) on shares of Martin Marietta Materials in a research report on Monday, October 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $244.20.
Martin Marietta Materials (NYSE MLM) traded down 0.68% during trading on Wednesday, hitting $204.57. 297,167 shares of the stock were exchanged. Martin Marietta Materials has a 12-month low of $172.38 and a 12-month high of $244.32. The stock has a 50 day moving average price of $204.62 and a 200-day moving average price of $217.79. The firm has a market capitalization of $12.85 billion, a PE ratio of 29.44 and a beta of 1.13.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.38 by ($0.13). The firm had revenue of $996.30 million for the quarter, compared to analysts’ expectations of $1.01 billion. Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. Martin Marietta Materials’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.90 EPS. On average, equities research analysts anticipate that Martin Marietta Materials will post $7.14 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 5th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, August 31st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 0.86%. Martin Marietta Materials’s payout ratio is presently 25.29%.
In related news, Director John J. Koraleski bought 500 shares of the company’s stock in a transaction on Friday, August 18th. The stock was acquired at an average cost of $198.37 per share, for a total transaction of $99,185.00. Following the completion of the transaction, the director now directly owns 1,439 shares in the company, valued at approximately $285,454.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.45% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Profund Advisors LLC lifted its holdings in shares of Martin Marietta Materials by 0.3% in the 2nd quarter. Profund Advisors LLC now owns 1,600 shares of the construction company’s stock worth $356,000 after acquiring an additional 5 shares during the last quarter. First National Bank of Hutchinson lifted its holdings in shares of Martin Marietta Materials by 0.3% in the 2nd quarter. First National Bank of Hutchinson now owns 2,214 shares of the construction company’s stock worth $505,000 after acquiring an additional 6 shares during the last quarter. L & S Advisors Inc lifted its holdings in shares of Martin Marietta Materials by 0.8% in the 2nd quarter. L & S Advisors Inc now owns 3,091 shares of the construction company’s stock worth $688,000 after acquiring an additional 26 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Martin Marietta Materials by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 9,431 shares of the construction company’s stock worth $2,099,000 after acquiring an additional 27 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its holdings in shares of Martin Marietta Materials by 0.7% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 4,438 shares of the construction company’s stock worth $988,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.
Martin Marietta Materials Company Profile
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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