Wall Street analysts expect Martin Marietta Materials, Inc. (NYSE:MLM) to report sales of $1.04 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Martin Marietta Materials' earnings, with the highest sales estimate coming in at $1.10 billion and the lowest estimate coming in at $1.01 billion. Martin Marietta Materials posted sales of $1.02 billion in the same quarter last year, which would indicate a positive year over year growth rate of 2%. The firm is expected to announce its next quarterly earnings report before the market opens on Tuesday, February 9th.
According to Zacks, analysts expect that Martin Marietta Materials will report full-year sales of $4.49 billion for the current fiscal year, with estimates ranging from $4.33 billion to $4.65 billion. For the next year, analysts expect that the business will post sales of $4.61 billion, with estimates ranging from $4.36 billion to $4.90 billion. Zacks' sales calculations are a mean average based on a survey of research analysts that follow Martin Marietta Materials.
Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, October 29th. The construction company reported $4.71 earnings per share for the quarter, beating the Zacks' consensus estimate of $3.76 by $0.95. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.35 billion. Martin Marietta Materials had a return on equity of 12.22% and a net margin of 14.38%. The firm's quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.96 EPS.
Several analysts recently commented on the company. Truist raised their price objective on Martin Marietta Materials from $233.00 to $290.00 in a research note on Wednesday, November 18th. Jefferies Financial Group downgraded Martin Marietta Materials from a "buy" rating to a "hold" rating and dropped their price target for the company from $314.00 to $282.00 in a research note on Friday, November 6th. Stephens raised Martin Marietta Materials from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, January 6th. Bank of America cut Martin Marietta Materials from a "buy" rating to a "neutral" rating and raised their price objective for the company from $246.00 to $280.00 in a report on Tuesday, October 13th. Finally, UBS Group initiated coverage on Martin Marietta Materials in a report on Tuesday, December 8th. They set a "neutral" rating and a $262.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Martin Marietta Materials presently has a consensus rating of "Buy" and an average price target of $254.70.
MLM stock opened at $309.60 on Friday. The business's fifty day moving average is $286.88 and its 200-day moving average is $248.59. The company has a quick ratio of 1.85, a current ratio of 3.27 and a debt-to-equity ratio of 0.46. The company has a market cap of $19.28 billion, a P/E ratio of 28.93, a price-to-earnings-growth ratio of 5.79 and a beta of 0.69. Martin Marietta Materials has a twelve month low of $135.08 and a twelve month high of $319.01.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 31st. Investors of record on Tuesday, December 1st were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.74%. The ex-dividend date was Monday, November 30th. Martin Marietta Materials's dividend payout ratio (DPR) is presently 23.41%.
In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,004 shares of the firm's stock in a transaction on Tuesday, November 24th. The shares were sold at an average price of $274.64, for a total value of $2,747,498.56. Following the completion of the transaction, the executive vice president now directly owns 64,120 shares of the company's stock, valued at approximately $17,609,916.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.73% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Freestone Capital Holdings LLC purchased a new position in shares of Martin Marietta Materials in the third quarter valued at about $28,000. Sageworth Trust Co purchased a new stake in Martin Marietta Materials in the third quarter worth about $28,000. Rockbridge Investment Management LCC purchased a new stake in Martin Marietta Materials in the third quarter worth about $33,000. Smithfield Trust Co. lifted its stake in shares of Martin Marietta Materials by 34.1% in the third quarter. Smithfield Trust Co. now owns 173 shares of the construction company's stock worth $40,000 after buying an additional 44 shares in the last quarter. Finally, Endurance Wealth Management Inc. bought a new position in shares of Martin Marietta Materials in the third quarter worth approximately $41,000. 97.77% of the stock is owned by institutional investors and hedge funds.
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. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; Portland and specialty cement used 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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