Martin Marietta Materials, Inc. (NYSE:MLM) – Stock analysts at Jefferies Financial Group issued their Q4 2020 earnings per share (EPS) estimates for Martin Marietta Materials in a report issued on Wednesday, October 9th. Jefferies Financial Group analyst P. Ng forecasts that the construction company will post earnings of $2.70 per share for the quarter. Jefferies Financial Group currently has a “Buy” rating and a $290.00 target price on the stock. Jefferies Financial Group also issued estimates for Martin Marietta Materials’ FY2021 earnings at $12.71 EPS.
Several other research firms have also recently commented on MLM. JPMorgan Chase & Co. boosted their price target on shares of Martin Marietta Materials from $265.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Longbow Research set a $265.00 price target on shares of Martin Marietta Materials and gave the company a “buy” rating in a report on Friday, August 30th. ValuEngine cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas began coverage on shares of Martin Marietta Materials in a report on Wednesday, October 9th. They set an “underperform” rating on the stock. Finally, Exane BNP Paribas began coverage on shares of Martin Marietta Materials in a report on Wednesday, October 9th. They set an “underperform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $231.86.
Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $3.01 EPS for the quarter, missing the 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 analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the firm earned $3.25 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis.
A number of large investors have recently modified their holdings of MLM. Meridian Wealth Management LLC bought a new stake in Martin Marietta Materials in the first quarter worth $64,000. Marshall Wace North America L.P. acquired a new position in Martin Marietta Materials during the 1st quarter worth $62,000. Advisory Services Network LLC lifted its position in Martin Marietta Materials by 68.1% during the 1st quarter. Advisory Services Network LLC now owns 6,681 shares of the construction company’s stock worth $1,344,000 after acquiring an additional 2,706 shares during the last quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund acquired a new position in Martin Marietta Materials during the 1st quarter worth $483,000. Finally, Cleararc Capital Inc. acquired a new position in Martin Marietta Materials during the 1st quarter worth $213,000.
In related news, CEO C Howard Nye sold 7,440 shares of the company’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Roselyn R. Bar sold 2,821 shares of the company’s stock in a transaction on 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 valued at $5,317,618 over the last quarter. 0.73% of the stock is currently owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued 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 dividend on an annualized basis and a yield of 0.83%. 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.
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