Martin Marietta Materials, Inc. (NYSE:MLM) – Research analysts at Jefferies Group issued their FY2017 EPS estimates for Martin Marietta Materials in a research note issued to investors on Wednesday. Jefferies Group analyst P. Ng expects that the construction company will post earnings of $6.81 per share for the year. Jefferies Group currently has a “Buy” rating and a $240.00 target price on the stock. Jefferies Group also issued estimates for Martin Marietta Materials’ Q4 2017 earnings at $1.50 EPS, Q3 2018 earnings at $3.51 EPS, FY2018 earnings at $10.01 EPS and FY2019 earnings at $12.61 EPS.
A number of other analysts have also recently issued reports on MLM. Citigroup reiterated a “buy” rating and issued a $260.00 target price (down from $270.00) on shares of Martin Marietta Materials in a research note on Monday, October 9th. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Friday. Stephens reiterated a “hold” rating and issued a $250.00 target price on shares of Martin Marietta Materials in a research note on Wednesday, January 3rd. SunTrust Banks reiterated a “buy” rating and issued a $228.00 target price on shares of Martin Marietta Materials in a research note on Friday, October 27th. Finally, Barclays assumed coverage on shares of Martin Marietta Materials in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $227.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $240.50.
Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, November 2nd. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.45 by ($0.06). The business had revenue of $1.02 million during the quarter, compared to analyst estimates of $1.07 billion. Martin Marietta Materials had a net margin of 11.03% and a return on equity of 10.39%. Martin Marietta Materials’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.49 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 1st were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, November 30th. Martin Marietta Materials’s payout ratio is 25.66%.
Several institutional investors have recently modified their holdings of MLM. Sun Life Financial INC lifted its stake 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 worth $102,000 after buying an additional 451 shares during the last quarter. Highlander Capital Management LLC acquired a new stake in shares of Martin Marietta Materials in the third quarter worth $124,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of Martin Marietta Materials in the third quarter worth $152,000. Westwood Holdings Group Inc. acquired a new stake in shares of Martin Marietta Materials in the second quarter worth $187,000. Finally, Numeric Investors LLC acquired a new stake in shares of Martin Marietta Materials in the second quarter worth $200,000. Institutional investors and hedge funds own 97.22% of the company’s stock.
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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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