Martin Marietta Materials, Inc. (MLM) Announces Quarterly Earnings Results
Martin Marietta Materials, Inc. (NYSE:MLM) posted its earnings results on Thursday. The construction company reported $2.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.45 by ($0.06), Briefing.com reports. The company had revenue of $1.02 million for the quarter, compared to the consensus estimate of $1.07 billion. Martin Marietta Materials had a net margin of 11.03% and a return on equity of 10.51%. Martin Marietta Materials’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned $2.49 earnings per share.
Shares of Martin Marietta Materials (MLM) traded up $2.85 on Friday, reaching $211.81. The company had a trading volume of 589,659 shares, compared to its average volume of 565,184. Martin Marietta Materials has a 1 year low of $188.59 and a 1 year high of $244.32. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $13,310.00, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 2.09 and a beta of 1.14.
A number of equities analysts have recently commented on MLM shares. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $228.00 price objective on shares of Martin Marietta Materials in a research note on Friday, October 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $240.00 price objective on shares of Martin Marietta Materials in a research note on Wednesday, October 11th. Citigroup Inc reiterated a “buy” rating and issued a $260.00 price objective (down from $270.00) on shares of Martin Marietta Materials in a research note on Monday, October 9th. Zacks Investment Research upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Finally, DA Davidson reiterated a “hold” rating and issued a $225.00 price objective on shares of Martin Marietta Materials in a research note on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $242.43.
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In other news, Director John J. Koraleski purchased 500 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average cost of $198.37 per share, for a total transaction of $99,185.00. Following the completion of the purchase, the director now directly owns 1,439 shares of the company’s stock, valued at approximately $285,454.43. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 8.45% of the company’s stock.
About Martin Marietta Materials
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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