Martin Marietta Materials, Inc. (NYSE:MLM) – Research analysts at Jefferies Financial Group reduced their Q2 2019 earnings per share (EPS) estimates for Martin Marietta Materials in a report released on Tuesday, November 6th. Jefferies Financial Group analyst P. Ng now forecasts that the construction company will post earnings per share of $3.33 for the quarter, down from their prior estimate of $3.53. Jefferies Financial Group also issued estimates for Martin Marietta Materials’ FY2020 earnings at $12.09 EPS.
A number of other brokerages have also recently weighed in on MLM. Stifel Nicolaus upped their price target on Martin Marietta Materials from $256.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, July 27th. Citigroup lowered their price target on 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. Bank of America lowered their price target on Martin Marietta Materials to $247.00 and set a “buy” rating on the stock in a research report on Wednesday, July 25th. Nomura initiated coverage on Martin Marietta Materials in a research report on Monday, October 29th. They issued a “buy” rating and a $220.00 price target on the stock. Finally, ValuEngine cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, July 28th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $221.67.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, November 6th. The construction company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.21. Martin Marietta Materials had a return on equity of 10.78% and a net margin of 17.95%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the business posted $2.39 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year.
In other news, SVP Donald A. Mccunniff sold 2,250 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $204.33, for a total transaction of $459,742.50. Following the sale, the senior vice president now owns 12,649 shares in the company, valued at $2,584,570.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. bought a new stake in shares of Martin Marietta Materials during the third quarter worth $110,000. Flagship Harbor Advisors LLC bought a new stake in shares of Martin Marietta Materials during the second quarter worth $128,000. Piedmont Investment Advisors LLC bought a new stake in shares of Martin Marietta Materials during the second quarter worth $160,000. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in shares of Martin Marietta Materials during the third quarter worth $181,000. Finally, NuWave Investment Management LLC grew its holdings in shares of Martin Marietta Materials by 18,400.0% during the third quarter. NuWave Investment Management LLC now owns 1,110 shares of the construction company’s stock worth $202,000 after purchasing an additional 1,104 shares during the last quarter.
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 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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