Jefferies Group LLC restated their buy rating on shares of Martin Marietta Materials, Inc. (NYSE:MLM) in a research note issued to investors on Wednesday morning. They currently have 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, FY2018 earnings at $9.11 EPS and FY2019 earnings at $11.09 EPS.
A number of other brokerages have also recently weighed in on MLM. Zacks Investment Research cut shares of Martin Marietta Materials from a hold rating to a sell rating in a research note on Friday, July 28th. Citigroup Inc. reissued a buy rating and set a $260.00 price objective (down from $270.00) on shares of Martin Marietta Materials in a research note on Monday. Finally, BidaskClub cut shares of Martin Marietta Materials from a hold rating to a sell rating in a research note on Saturday, August 5th. One equities research 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 presently has a consensus rating of Buy and an average target price of $244.20.
Shares of Martin Marietta Materials (NYSE MLM) traded up 1.10% on Wednesday, hitting $205.98. The stock had a trading volume of 346,331 shares. The stock has a market cap of $12.94 billion, a PE ratio of 29.64 and a beta of 1.13. Martin Marietta Materials has a one year low of $167.06 and a one year high of $244.32. The company’s 50 day moving average is $204.15 and its 200 day moving average is $217.83.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.38 by ($0.13). Martin Marietta Materials had a return on equity of 10.69% and a net margin of 11.19%. The business had revenue of $996.30 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the business earned $1.90 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts predict that Martin Marietta Materials will post $7.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 5th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $1.76 dividend on an annualized basis and a yield of 0.85%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.42. Martin Marietta Materials’s dividend payout ratio (DPR) is 25.29%.
In other news, Director John J. Koraleski bought 500 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average price of $198.37 per share, for a total transaction of $99,185.00. Following the completion of the transaction, the director now owns 1,439 shares in the company, valued at $285,454.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.45% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in MLM. Victory Capital Management Inc. boosted its position in Martin Marietta Materials by 4.8% during the first quarter. Victory Capital Management Inc. now owns 15,445 shares of the construction company’s stock worth $3,371,000 after acquiring an additional 713 shares during the last quarter. Neuberger Berman Group LLC boosted its position in Martin Marietta Materials by 102.8% during the first quarter. Neuberger Berman Group LLC now owns 2,584 shares of the construction company’s stock worth $564,000 after acquiring an additional 1,310 shares during the last quarter. United Services Automobile Association boosted its position in Martin Marietta Materials by 31.4% during the first quarter. United Services Automobile Association now owns 26,511 shares of the construction company’s stock worth $5,786,000 after acquiring an additional 6,342 shares during the last quarter. OppenheimerFunds Inc. boosted its position in Martin Marietta Materials by 26.8% during the first quarter. OppenheimerFunds Inc. now owns 2,233 shares of the construction company’s stock worth $487,000 after acquiring an additional 472 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in Martin Marietta Materials by 58.7% during the first quarter. Teachers Advisors LLC now owns 110,889 shares of the construction company’s stock worth $24,202,000 after acquiring an additional 41,017 shares during the last quarter. Hedge funds and other institutional investors 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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