The Jefferies Group Equities Analysts Decrease Earnings Estimates for Martin Marietta Materials Inc. (MLM)

The Jefferies Group Equities Analysts Decrease Earnings Estimates for Martin Marietta Materials Inc. (MLM)

Martin Marietta Materials Inc. (NYSE:MLM) – Investment analysts at Jefferies Group reduced their Q4 2016 earnings estimates for shares of Martin Marietta Materials in a research report issued to clients and investors on Monday. Jefferies Group analyst M. Betts now expects that the brokerage will post earnings of $1.43 per share for the quarter, down from their prior estimate of $1.64. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Martin Marietta Materials’ FY2017 earnings at $9.25 EPS.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.02 by $0.12. The company earned $915.40 million during the quarter, compared to analyst estimates of $953.30 million. Martin Marietta Materials had a net margin of 9.96% and a return on equity of 9.36%. Martin Marietta Materials’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 earnings per share.

A number of other brokerages also recently issued reports on MLM. Bank of America Corp. reiterated a “buy” rating on shares of Martin Marietta Materials in a research report on Friday, June 17th. Zacks Investment Research upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $201.00 price objective on the stock in a research report on Tuesday, June 28th. DA Davidson increased their price objective on Martin Marietta Materials from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Finally, Goldman Sachs Group Inc. downgraded Martin Marietta Materials from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $210.00 to $202.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $203.00.

Shares of Martin Marietta Materials (NYSE:MLM) traded down 0.66% during trading on Wednesday, reaching $168.77. The company’s stock had a trading volume of 124,425 shares. The stock has a market cap of $10.71 billion, a P/E ratio of 30.07 and a beta of 1.36. Martin Marietta Materials has a 52-week low of $108.31 and a 52-week high of $206.36. The stock has a 50-day moving average of $180.04 and a 200-day moving average of $183.40.

The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 1st were given a dividend of $0.42 per share. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, August 30th. This represents a $1.68 dividend on an annualized basis and a yield of 0.99%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 30.05%.

In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 5,830 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $199.98, for a total transaction of $1,165,883.40. Following the sale, the executive vice president now owns 42,588 shares in the company, valued at $8,516,748.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David G. Maffucci sold 6,779 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $199.90, for a total value of $1,355,122.10. Following the sale, the director now owns 20,326 shares in the company, valued at approximately $4,063,167.40. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its position in Martin Marietta Materials by 1.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 530 shares of the company’s stock valued at $101,000 after buying an additional 5 shares in the last quarter. Checchi Capital Advisers LLC increased its position in Martin Marietta Materials by 5.9% in the second quarter. Checchi Capital Advisers LLC now owns 686 shares of the company’s stock valued at $132,000 after buying an additional 38 shares in the last quarter. BlueMountain Capital Management LLC increased its position in Martin Marietta Materials by 1,196.3% in the second quarter. BlueMountain Capital Management LLC now owns 700 shares of the company’s stock valued at $134,000 after buying an additional 646 shares in the last quarter. Bessemer Group Inc. bought a new position in Martin Marietta Materials during the second quarter valued at approximately $134,000. Finally, Carroll Financial Associates Inc. increased its position in Martin Marietta Materials by 1.4% in the third quarter. Carroll Financial Associates Inc. now owns 750 shares of the company’s stock valued at $134,000 after buying an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 97.18% of the company’s stock.

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