Martin Marietta Materials, Inc. (NYSE:MLM) – Equities researchers at DA Davidson lifted their Q2 2018 earnings per share (EPS) estimates for Martin Marietta Materials in a note issued to investors on Wednesday, Zacks Investment Research reports. DA Davidson analyst B. Thielman now forecasts that the construction company will earn $2.42 per share for the quarter, up from their prior estimate of $2.28. DA Davidson also issued estimates for Martin Marietta Materials’ Q3 2018 earnings at $2.80 EPS, Q4 2018 earnings at $2.24 EPS, FY2018 earnings at $8.20 EPS and FY2019 earnings at $11.31 EPS.
Several other analysts also recently commented on MLM. Alembic Global Advisors reaffirmed a “buy” rating on shares of Martin Marietta Materials in a research report on Wednesday, February 14th. SunTrust Banks reaffirmed a “buy” rating and set a $245.00 price objective on shares of Martin Marietta Materials in a research report on Tuesday, February 13th. Citigroup lifted their price target on shares of Martin Marietta Materials from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Zacks Investment Research raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, Stephens reissued a “hold” rating and issued a $250.00 price target on shares of Martin Marietta Materials in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $243.25.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, February 13th. The construction company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.42 by $0.46. The company had revenue of $911.30 million during the quarter, compared to the consensus estimate of $924.30 million. Martin Marietta Materials had a net margin of 17.99% and a return on equity of 10.55%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.55 EPS.
Large investors have recently modified their holdings of the business. Valeo Financial Advisors LLC lifted its stake in Martin Marietta Materials by 149.0% during the 4th quarter. Valeo Financial Advisors LLC now owns 523 shares of the construction company’s stock valued at $116,000 after acquiring an additional 313 shares in the last quarter. Highlander Capital Management LLC bought a new position in Martin Marietta Materials during the 3rd quarter valued at $124,000. Captrust Financial Advisors bought a new position in Martin Marietta Materials during the 4th quarter valued at $151,000. Massey Quick Simon & CO. LLC bought a new position in Martin Marietta Materials during the 3rd quarter valued at $152,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Martin Marietta Materials during the 4th quarter valued at $155,000. Institutional investors and hedge funds own 99.32% of the company’s stock.
In related news, Director Sue W. Cole sold 3,000 shares of Martin Marietta Materials stock in a transaction on Monday, March 12th. The shares were sold at an average price of $210.06, for a total value of $630,180.00. Following the completion of the sale, the director now owns 24,145 shares of the company’s stock, valued at approximately $5,071,898.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 8.45% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Monday, March 5th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Friday, March 2nd. Martin Marietta Materials’s payout ratio is currently 24.55%.
ILLEGAL ACTIVITY NOTICE: “Equities Analysts Issue Forecasts for Martin Marietta Materials, Inc.’s Q2 2018 Earnings (NYSE:MLM)” was published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The legal version of this story can be accessed at https://stocknewstimes.com/2018/03/14/martin-marietta-materials-inc-to-post-q2-2018-earnings-of-2-42-per-share-da-davidson-forecasts-mlm.html.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Martin Marietta Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials and related companies with MarketBeat.com's FREE daily email newsletter.