Martin Marietta Materials, Inc. (NYSE:MLM) – Stock analysts at Jefferies Financial Group issued their Q4 2020 earnings per share (EPS) estimates for shares of Martin Marietta Materials in a research report issued to clients and investors on Wednesday, October 9th. Jefferies Financial Group analyst P. Ng forecasts that the construction company will post earnings per share of $2.70 for the quarter. Jefferies Financial Group has a “Buy” rating and a $290.00 price objective on the stock. Jefferies Financial Group also issued estimates for Martin Marietta Materials’ FY2021 earnings at $12.71 EPS.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $3.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.08 by ($0.07). Martin Marietta Materials had a net margin of 11.37% and a return on equity of 10.35%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the business posted $3.25 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year.
Other research analysts have also recently issued reports about the company. ValuEngine cut Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas began coverage on Martin Marietta Materials in a research note on Wednesday, October 9th. They issued an “underperform” rating on the stock. JPMorgan Chase & Co. raised their target price on Martin Marietta Materials from $265.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Longbow Research set a $265.00 target price on Martin Marietta Materials and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Bank of America raised Martin Marietta Materials from an “underperform” rating to a “neutral” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $231.86.
Shares of NYSE:MLM opened at $265.83 on Monday. The stock’s 50-day moving average price is $262.75 and its 200-day moving average price is $233.82. Martin Marietta Materials has a 12-month low of $150.75 and a 12-month high of $275.99. The stock has a market capitalization of $16.57 billion, a P/E ratio of 32.86, a price-to-earnings-growth ratio of 2.48 and a beta of 1.11. The company has a current ratio of 1.86, a quick ratio of 1.08 and a debt-to-equity ratio of 0.62.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.48. This represents a $2.20 annualized dividend and a dividend yield of 0.83%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 27.19%.
In other Martin Marietta Materials news, CEO C Howard Nye sold 7,440 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $253.52, for a total value of $1,886,188.80. Following the completion of the sale, the chief executive officer now directly owns 154,544 shares in the company, valued at $39,179,994.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Roselyn R. Bar sold 2,821 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $246.93, for a total transaction of $696,589.53. Following the completion of the sale, the executive vice president now owns 57,149 shares of the company’s stock, valued at $14,111,802.57. The disclosure for this sale can be found here. Insiders sold 21,485 shares of company stock worth $5,317,618 over the last three months. 0.73% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Destination Wealth Management lifted its holdings in Martin Marietta Materials by 825.0% in the second quarter. Destination Wealth Management now owns 111 shares of the construction company’s stock worth $26,000 after buying an additional 99 shares during the period. Rational Advisors LLC lifted its holdings in Martin Marietta Materials by 2,160.0% in the second quarter. Rational Advisors LLC now owns 113 shares of the construction company’s stock worth $26,000 after buying an additional 108 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in Martin Marietta Materials in the second quarter worth about $31,000. Capital Investment Advisory Services LLC lifted its holdings in Martin Marietta Materials by 153.3% in the second quarter. Capital Investment Advisory Services LLC now owns 152 shares of the construction company’s stock worth $34,000 after buying an additional 92 shares during the period. Finally, Commonwealth Bank of Australia lifted its holdings in Martin Marietta Materials by 28.1% in the second quarter. Commonwealth Bank of Australia now owns 196 shares of the construction company’s stock worth $43,000 after buying an additional 43 shares during the period.
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 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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