Exane BNP Paribas upgraded shares of Martin Marietta Materials (NYSE:MLM – Get Rating) from a neutral rating to an outperform rating in a report published on Tuesday morning, The Fly reports.

MLM has been the subject of several other research reports. Wolfe Research upgraded shares of Martin Marietta Materials from a peer perform rating to an outperform rating and dropped their target price for the company from $406.00 to $384.00 in a report on Thursday, July 14th. Raymond James restated an outperform rating and issued a $410.00 price target on shares of Martin Marietta Materials in a research note on Friday, August 19th. DA Davidson dropped their price target on shares of Martin Marietta Materials from $450.00 to $375.00 and set a buy rating for the company in a research note on Friday, July 1st. StockNews.com upgraded shares of Martin Marietta Materials from a sell rating to a hold rating in a research note on Monday, August 1st. Finally, JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a neutral rating to an overweight rating and dropped their price target for the stock from $420.00 to $410.00 in a research note on Friday, June 3rd. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $411.18.

Martin Marietta Materials Stock Down 2.3 %

Shares of NYSE MLM opened at $320.05 on Tuesday. The company has a 50 day simple moving average of $346.61 and a 200-day simple moving average of $345.70. The company has a market capitalization of $19.96 billion, a P/E ratio of 25.06, a P/E/G ratio of 1.63 and a beta of 0.87. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.63 and a quick ratio of 2.53. Martin Marietta Materials has a 1 year low of $284.99 and a 1 year high of $446.46.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 1st will be given a $0.66 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This is a boost from Martin Marietta Materials's previous quarterly dividend of $0.61. This represents a $2.64 dividend on an annualized basis and a yield of 0.82%. Martin Marietta Materials's payout ratio is 20.67%.

Institutional Investors Weigh In On Martin Marietta Materials

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FDx Advisors Inc. lifted its position in Martin Marietta Materials by 1.4% in the first quarter. FDx Advisors Inc. now owns 2,112 shares of the construction company's stock valued at $813,000 after acquiring an additional 29 shares during the last quarter. Coastal Investment Advisors Inc. lifted its position in Martin Marietta Materials by 0.8% in the first quarter. Coastal Investment Advisors Inc. now owns 4,018 shares of the construction company's stock valued at $1,546,000 after acquiring an additional 30 shares during the last quarter. Personal CFO Solutions LLC lifted its position in Martin Marietta Materials by 4.2% in the first quarter. Personal CFO Solutions LLC now owns 736 shares of the construction company's stock valued at $283,000 after acquiring an additional 30 shares during the last quarter. MAI Capital Management lifted its position in Martin Marietta Materials by 5.1% in the first quarter. MAI Capital Management now owns 674 shares of the construction company's stock valued at $259,000 after acquiring an additional 33 shares during the last quarter. Finally, Dupont Capital Management Corp increased its stake in Martin Marietta Materials by 14.1% in the first quarter. Dupont Capital Management Corp now owns 275 shares of the construction company's stock valued at $106,000 after purchasing an additional 34 shares during the period. 93.51% of the stock is owned by hedge funds and other institutional investors.

About Martin Marietta Materials

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Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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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