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.
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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 (NYSE:MLM – Get Rating) last posted its earnings results on Thursday, July 28th. The construction company reported $3.96 earnings per share for the quarter, missing the consensus estimate of $4.09 by ($0.13). Martin Marietta Materials had a net
margin of 13.49% and a return on equity of 11.28%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the business posted $3.81 EPS. The firm's revenue for the quarter was up 19.1% on a year-over-year basis. On average, equities research analysts predict that Martin Marietta Materials will post 13.27 earnings per share for the current year.
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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