Martin Marietta Materials (NYSE:MLM) released its earnings results on Tuesday. The construction company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.21), MarketWatch Earnings reports. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. Martin Marietta Materials had a return on equity of 10.78% and a net margin of 17.95%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.88 EPS. Martin Marietta Materials updated its FY 2019 guidance to EPS.
MLM stock traded down $0.52 during mid-day trading on Wednesday, reaching $184.04. 5,825 shares of the company traded hands, compared to its average volume of 771,300. The company has a market capitalization of $11.56 billion, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.15. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.04 and a current ratio of 1.88. Martin Marietta Materials has a fifty-two week low of $150.75 and a fifty-two week high of $232.88.
A number of equities research analysts recently commented on the company. Deutsche Bank upped their price objective on Martin Marietta Materials from $198.00 to $207.00 and gave the company a “buy” rating in a report on Wednesday. Stephens set a $187.00 price objective on Martin Marietta Materials and gave the stock a “hold” rating in a research report on Wednesday, October 17th. Citigroup set a $231.00 price objective on Martin Marietta Materials and gave the stock a “buy” rating in a research report on Thursday, November 8th. Zacks Investment Research upgraded Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 18th. Finally, ValuEngine upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, November 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $217.36.
A number of hedge funds have recently modified their holdings of MLM. First Personal Financial Services grew its position in Martin Marietta Materials by 30.3% in the fourth quarter. First Personal Financial Services now owns 271 shares of the construction company’s stock worth $47,000 after acquiring an additional 63 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Martin Marietta Materials by 19.7% during the fourth quarter. Parallel Advisors LLC now owns 425 shares of the construction company’s stock valued at $73,000 after acquiring an additional 70 shares during the last quarter. ETF Managers Group LLC raised its stake in shares of Martin Marietta Materials by 15.5% during the fourth quarter. ETF Managers Group LLC now owns 626 shares of the construction company’s stock valued at $108,000 after acquiring an additional 84 shares during the last quarter. Bogart Wealth LLC raised its stake in shares of Martin Marietta Materials by 76.9% during the fourth quarter. Bogart Wealth LLC now owns 230 shares of the construction company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Finally, Icon Advisers Inc. Co. raised its stake in Martin Marietta Materials by 0.5% in the fourth quarter. Icon Advisers Inc. Co. now owns 20,010 shares of the construction company’s stock worth $3,439,000 after buying an additional 100 shares in the last quarter.
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About Martin Marietta Materials
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 provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; and 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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