Q4 2019 EPS Estimates for Martin Marietta Materials, Inc. Cut by Analyst (NYSE:MLM)

Martin Marietta Materials, Inc. (NYSE:MLM) – SunTrust Banks cut their Q4 2019 earnings estimates for shares of Martin Marietta Materials in a research note issued on Monday, January 13th. SunTrust Banks analyst R. Seth now expects that the construction company will post earnings of $1.90 per share for the quarter, down from their previous forecast of $2.11. SunTrust Banks currently has a “Buy” rating and a $295.00 target price on the stock.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.50 by $0.46. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.33 billion. Martin Marietta Materials had a return on equity of 11.52% and a net margin of 12.35%. The business’s revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company earned $2.85 earnings per share.

Several other research firms have also recently weighed in on MLM. DA Davidson lifted their price target on Martin Marietta Materials to $310.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays reissued a “hold” rating and set a $284.00 price target on shares of Martin Marietta Materials in a report on Wednesday, October 16th. Deutsche Bank started coverage on Martin Marietta Materials in a report on Friday, January 3rd. They set a “buy” rating and a $198.00 price target for the company. Exane BNP Paribas started coverage on Martin Marietta Materials in a research note on Wednesday, October 9th. They issued an “underperform” rating on the stock. Finally, Bank of America upgraded Martin Marietta Materials from an “underperform” rating to a “neutral” rating in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $266.57.

MLM stock opened at $260.75 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 2.29 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average price of $273.93 and a two-hundred day moving average price of $257.88. The company has a market cap of $17.30 billion, a price-to-earnings ratio of 32.23, a P/E/G ratio of 2.13 and a beta of 1.11. Martin Marietta Materials has a twelve month low of $171.84 and a twelve month high of $281.82.

Large investors have recently bought and sold shares of the business. Prime Capital Investment Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the third quarter worth $27,000. CSat Investment Advisory L.P. lifted its position in shares of Martin Marietta Materials by 55.8% during the second quarter. CSat Investment Advisory L.P. now owns 187 shares of the construction company’s stock worth $43,000 after acquiring an additional 67 shares in the last quarter. Commonwealth Bank of Australia lifted its position in shares of Martin Marietta Materials by 28.1% during the second quarter. Commonwealth Bank of Australia now owns 196 shares of the construction company’s stock worth $43,000 after acquiring an additional 43 shares in the last quarter. Capital Investment Advisory Services LLC lifted its position in shares of Martin Marietta Materials by 55.3% during the third quarter. Capital Investment Advisory Services LLC now owns 236 shares of the construction company’s stock worth $65,000 after acquiring an additional 84 shares in the last quarter. Finally, Allred Capital Management LLC purchased a new stake in shares of Martin Marietta Materials during the fourth quarter worth $82,000. Hedge funds and other institutional investors own 99.06% of the company’s stock.

In related news, Director John J. Koraleski bought 1,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $260.23 per share, for a total transaction of $260,230.00. Following the completion of the transaction, the director now directly owns 3,250 shares in the company, valued at approximately $845,747.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.73% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.20 annualized dividend and a dividend yield of 0.84%. Martin Marietta Materials’s dividend payout ratio is currently 27.19%.

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 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.

Further Reading: Cost of Goods Sold (COGS)

Earnings History and Estimates for Martin Marietta Materials (NYSE:MLM)

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