Martin Marietta Materials, Inc. (NYSE:MLM) – Equities researchers at Jefferies Financial Group reduced their Q3 2020 earnings per share estimates for shares of Martin Marietta Materials in a research note issued on Tuesday, July 28th. Jefferies Financial Group analyst P. Ng now expects that the construction company will earn $3.68 per share for the quarter, down from their prior forecast of $3.84. Jefferies Financial Group also issued estimates for Martin Marietta Materials’ FY2021 earnings at $9.49 EPS and FY2022 earnings at $10.37 EPS.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, July 28th. The construction company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.45. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Martin Marietta Materials had a net margin of 13.12% and a return on equity of 11.62%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.01 earnings per share.

Other equities research analysts also recently issued reports about the stock. Citigroup lifted their price target on shares of Martin Marietta Materials from $230.00 to $263.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. DA Davidson downgraded shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating and set a $185.00 price target for the company. in a report on Wednesday, April 22nd. BNP Paribas upgraded shares of Martin Marietta Materials to a “buy” rating and set a $249.00 price target for the company in a report on Tuesday, June 16th. Atlantic Securities started coverage on shares of Martin Marietta Materials in a report on Friday, June 19th. They set an “overweight” rating and a $250.00 price target for the company. Finally, Cfra lowered their price target on shares of Martin Marietta Materials from $298.00 to $215.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Martin Marietta Materials currently has a consensus rating of “Buy” and an average price target of $234.35.

Shares of NYSE MLM opened at $207.18 on Friday. The company has a market cap of $12.90 billion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 8.08 and a beta of 0.91. Martin Marietta Materials has a 12 month low of $135.08 and a 12 month high of $281.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.67 and a quick ratio of 1.05. The company has a 50-day simple moving average of $212.18 and a 200-day simple moving average of $213.80.

In other Martin Marietta Materials news, Director John J. Koraleski acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was bought at an average cost of $174.49 per share, for a total transaction of $174,490.00. Also, Director Stephen P. Zelnak, Jr. sold 16,885 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $225.55, for a total transaction of $3,808,411.75. Following the sale, the director now owns 52,769 shares of the company’s stock, valued at $11,902,047.95. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 2,021 shares of company stock valued at $342,077 and have sold 24,880 shares valued at $5,269,146. 0.73% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Aristotle Capital Management LLC lifted its position in shares of Martin Marietta Materials by 8.5% during the first quarter. Aristotle Capital Management LLC now owns 2,940,114 shares of the construction company’s stock worth $556,358,000 after purchasing an additional 230,468 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Martin Marietta Materials by 0.5% during the first quarter. Baillie Gifford & Co. now owns 2,739,119 shares of the construction company’s stock worth $518,324,000 after purchasing an additional 12,771 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Martin Marietta Materials by 9.5% during the first quarter. JPMorgan Chase & Co. now owns 2,299,687 shares of the construction company’s stock worth $435,170,000 after purchasing an additional 199,195 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of Martin Marietta Materials by 9.8% during the first quarter. William Blair Investment Management LLC now owns 1,139,759 shares of the construction company’s stock worth $215,677,000 after purchasing an additional 101,312 shares in the last quarter. Finally, M&G Investment Management Ltd. lifted its position in shares of Martin Marietta Materials by 18.9% during the second quarter. M&G Investment Management Ltd. now owns 644,726 shares of the construction company’s stock worth $133,458,000 after purchasing an additional 102,299 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.

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Earnings History and Estimates for Martin Marietta Materials (NYSE:MLM)

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