$1.22 Billion in Sales Expected for Martin Marietta Materials, Inc. (MLM) This Quarter
Brokerages expect Martin Marietta Materials, Inc. (NYSE:MLM) to announce $1.22 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Martin Marietta Materials’ earnings, with estimates ranging from $1.19 billion to $1.25 billion. Martin Marietta Materials posted sales of $1.13 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 8%. The company is expected to issue its next earnings report on Thursday, July 25th.
On average, analysts expect that Martin Marietta Materials will report full-year sales of $4.37 billion for the current fiscal year, with estimates ranging from $4.33 billion to $4.42 billion. For the next fiscal year, analysts expect that the company will report sales of $4.68 billion, with estimates ranging from $4.58 billion to $4.78 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Martin Marietta Materials.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, April 30th. The construction company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.39. The firm had revenue of $938.96 million for the quarter, compared to analyst estimates of $881.82 million. Martin Marietta Materials had a net margin of 11.48% and a return on equity of 10.82%. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 earnings per share.
In related news, SVP Donald A. Mccunniff sold 3,183 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $220.19, for a total transaction of $700,864.77. Following the transaction, the senior vice president now owns 16,724 shares of the company’s stock, valued at $3,682,457.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald A. Mccunniff sold 660 shares of the business’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $190.90, for a total transaction of $125,994.00. Following the transaction, the senior vice president now directly owns 15,349 shares in the company, valued at approximately $2,930,124.10. The disclosure for this sale can be found here. Insiders have sold 20,011 shares of company stock worth $4,353,464 in the last ninety days. 0.73% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in MLM. Man Group plc bought a new position in Martin Marietta Materials during the third quarter worth $255,000. Nordea Investment Management AB increased its position in Martin Marietta Materials by 1,994.5% during the third quarter. Nordea Investment Management AB now owns 60,698 shares of the construction company’s stock worth $11,045,000 after acquiring an additional 57,800 shares during the period. Legal & General Group Plc increased its position in Martin Marietta Materials by 2.3% during the third quarter. Legal & General Group Plc now owns 271,065 shares of the construction company’s stock worth $49,320,000 after acquiring an additional 6,100 shares during the period. Vanguard Group Inc increased its position in Martin Marietta Materials by 0.4% during the third quarter. Vanguard Group Inc now owns 6,653,036 shares of the construction company’s stock worth $1,210,520,000 after acquiring an additional 28,832 shares during the period. Finally, Federated Investors Inc. PA boosted its stake in Martin Marietta Materials by 77,513.2% during the third quarter. Federated Investors Inc. PA now owns 135,047 shares of the construction company’s stock worth $24,572,000 after buying an additional 134,873 shares in the last quarter.
Shares of MLM opened at $217.31 on Thursday. The company has a market cap of $13.30 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 2.09 and a beta of 1.15. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 1.81. Martin Marietta Materials has a twelve month low of $150.75 and a twelve month high of $232.88.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, May 31st. Martin Marietta Materials’s dividend payout ratio is 23.73%.
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 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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