Analysts Anticipate Martin Marietta Materials, Inc. (MLM) Will Post Quarterly Sales of $1.14 Billion

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Wall Street brokerages forecast that Martin Marietta Materials, Inc. (NYSE:MLM) will report sales of $1.14 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Martin Marietta Materials’ earnings, with estimates ranging from $1.08 billion to $1.22 billion. Martin Marietta Materials posted sales of $1.02 billion in the same quarter last year, which suggests a positive year over year growth rate of 11.8%. The business is scheduled to announce its next earnings results on Thursday, November 1st.

According to Zacks, analysts expect that Martin Marietta Materials will report full year sales of $4.06 billion for the current fiscal year, with estimates ranging from $3.98 billion to $4.20 billion. For the next year, analysts anticipate that the business will report sales of $4.43 billion, with estimates ranging from $4.36 billion to $4.49 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Martin Marietta Materials.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, July 26th. The construction company reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.45. Martin Marietta Materials had a return on equity of 10.52% and a net margin of 17.82%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the firm posted $2.27 earnings per share. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year.

MLM has been the topic of several analyst reports. Bank of America cut their target price on Martin Marietta Materials to $247.00 and set a “buy” rating on the stock in a research note on Wednesday, July 25th. Stifel Nicolaus increased their target price on Martin Marietta Materials from $256.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, July 27th. ValuEngine lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th. Citigroup cut their target price on Martin Marietta Materials from $262.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, July 30th. Finally, Stephens reissued a “hold” rating and issued a $233.00 target price on shares of Martin Marietta Materials in a research note on Wednesday, August 1st. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $221.88.

In related news, Director Stephen P. Zelnak, Jr. bought 3,500 shares of the business’s stock in a transaction on Monday, July 30th. The shares were purchased at an average price of $202.87 per share, with a total value of $710,045.00. Following the completion of the purchase, the director now owns 21,880 shares of the company’s stock, valued at approximately $4,438,795.60. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John J. Koraleski purchased 2,400 shares of the stock in a transaction on Friday, July 27th. The stock was acquired at an average price of $208.06 per share, with a total value of $499,344.00. Following the completion of the acquisition, the director now directly owns 4,750 shares of the company’s stock, valued at $988,285. The disclosure for this purchase can be found here. Corporate insiders own 0.75% of the company’s stock.

Several institutional investors have recently made changes to their positions in MLM. Morgan Stanley increased its holdings in shares of Martin Marietta Materials by 27.9% in the second quarter. Morgan Stanley now owns 3,492,115 shares of the construction company’s stock worth $779,894,000 after acquiring an additional 760,872 shares in the last quarter. Standard Life Aberdeen plc increased its holdings in shares of Martin Marietta Materials by 226.2% in the second quarter. Standard Life Aberdeen plc now owns 739,350 shares of the construction company’s stock worth $165,130,000 after acquiring an additional 512,723 shares in the last quarter. FMR LLC increased its holdings in shares of Martin Marietta Materials by 37.9% in the second quarter. FMR LLC now owns 1,831,320 shares of the construction company’s stock worth $408,988,000 after acquiring an additional 503,126 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Martin Marietta Materials by 19.1% in the second quarter. Bank of New York Mellon Corp now owns 1,006,654 shares of the construction company’s stock worth $224,815,000 after acquiring an additional 161,522 shares in the last quarter. Finally, Select Equity Group L.P. increased its holdings in shares of Martin Marietta Materials by 6.6% in the second quarter. Select Equity Group L.P. now owns 1,937,854 shares of the construction company’s stock worth $432,781,000 after acquiring an additional 119,936 shares in the last quarter.

NYSE:MLM opened at $162.75 on Friday. Martin Marietta Materials has a 1-year low of $161.76 and a 1-year high of $241.33. The company has a current ratio of 2.05, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $11.47 billion, a price-to-earnings ratio of 23.14, a P/E/G ratio of 1.37 and a beta of 1.08.

The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Tuesday, September 4th were paid a $0.48 dividend. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, August 31st. This represents a $1.92 annualized dividend and a yield of 1.18%. Martin Marietta Materials’s dividend payout ratio is presently 26.74%.

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 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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