Martin Marietta Materials (MLM) reported quarterly earnings results on Tuesday, Aug-2-2016. The company reported $1.90 earnings per share for the quarter, missing the analyst consensus estimate by $-0.10. Analysts had a consensus of $2.00. The company posted revenue of $915.40 million in the period, compared to analysts expectations of $997.65 million. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS.
Many Wall Street Analysts have commented on Martin Marietta Materials. Alembic Global Advisors Initiated Martin Marietta Materials on Jun 9, 2016 to “Overweight”, Price Target of the shares are set at $220.Company shares were Reiterated by Stifel on May 9, 2016 to “Buy”, Firm has raised the Price Target to $ 193 from a previous price target of $181 .
Martin Marietta Materials closed down -3.05 points or -1.48% at $202.65 with 8,20,921 shares getting traded on Friday. Post opening the session at $205.36, the shares hit an intraday low of $202.15 and an intraday high of $206.24 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Jun 9, 2016, Stephen P Jr Zelnak (director) sold 3,000 shares at $188.90 per share price. According to the SEC, on May 25, 2016, Dana F. Guzzo (SVP/Controller/CAO) sold 213 shares at $189.20 per share price. On May 18, 2016, Anne H Lloyd (EVP and CFO) sold 9,031 shares at $186.76 per share price, according to the Form-4 filing with the securities and exchange commission.
Martin Marietta Materials Inc. is a supplier of aggregates products (crushed stone sand and gravel) and heavy building materials (cement) for the construction industry including infrastructure non-residential residential railroad ballast agricultural and chemical grade stone used in environmental applications. The Company operates through three businesses: Aggregates Business Cement Business and Magnesia Specialties Business. The Companys Aggregates Business is engaged in mining processing and selling granite limestone sand gravel and other aggregate products. The Companys Cement Business is engaged in producing Portland and specialty cements such as masonry and oil well cements. The Companys Magnesia Specialties Business includes magnesia-based chemicals and dolomitic lime businesses.