$1.23 Billion in Sales Expected for Martin Marietta Materials, Inc. (MLM) This Quarter

Wall Street analysts expect Martin Marietta Materials, Inc. (NYSE:MLM) to post $1.23 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Martin Marietta Materials’ earnings, with the highest sales estimate coming in at $1.28 billion and the lowest estimate coming in at $1.16 billion. Martin Marietta Materials reported sales of $1.02 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.6%. The firm is scheduled to issue its next quarterly earnings report on Thursday, November 1st.

On average, analysts expect that Martin Marietta Materials will report full year sales of $4.17 billion for the current year, with estimates ranging from $4.08 billion to $4.21 billion. For the next financial year, analysts forecast that the company will post sales of $4.59 billion per share, with estimates ranging from $4.49 billion to $4.69 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Martin Marietta Materials.

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



Several research analysts have weighed in on MLM shares. ValuEngine upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. Stifel Nicolaus upped their target price on shares of Martin Marietta Materials from $256.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. Citigroup lowered their target price on shares of Martin Marietta Materials from $262.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, July 30th. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $258.00 target price on the stock in a research report on Thursday, June 14th. Finally, Bank of America lowered their target price on shares of Martin Marietta Materials to $247.00 and set a “buy” rating on the stock in a research report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $241.22.

In other news, Director Stephen P. Zelnak, Jr. acquired 3,500 shares of Martin Marietta Materials stock in a transaction that occurred on Monday, July 30th. The shares were acquired 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Donald A. Mccunniff sold 4,226 shares of the company’s stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $230.72, for a total transaction of $975,022.72. Following the transaction, the senior vice president now directly owns 14,899 shares in the company, valued at approximately $3,437,497.28. The disclosure for this sale can be found here. 0.75% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in MLM. Synovus Financial Corp purchased a new position in Martin Marietta Materials during the first quarter worth approximately $102,000. Lee Financial Co purchased a new position in Martin Marietta Materials during the first quarter worth approximately $109,000. Flagship Harbor Advisors LLC purchased a new position in Martin Marietta Materials during the second quarter worth approximately $128,000. Motco acquired a new stake in shares of Martin Marietta Materials in the first quarter worth $135,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the second quarter worth $160,000. 99.86% of the stock is currently owned by institutional investors and hedge funds.

MLM traded down $1.21 on Friday, hitting $201.54. 17,198 shares of the company were exchanged, compared to its average volume of 658,046. The company has a current ratio of 2.05, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60. Martin Marietta Materials has a fifty-two week low of $189.26 and a fifty-two week high of $241.33. The firm has a market capitalization of $12.61 billion, a P/E ratio of 27.90, a PEG ratio of 1.50 and a beta of 1.08.

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 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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