StockNews.com Upgrades Martin Marietta Materials (NYSE:MLM) to Hold

StockNews.com upgraded shares of Martin Marietta Materials (NYSE:MLM) from a sell rating to a hold rating in a research note published on Tuesday.

A number of other equities analysts have also weighed in on MLM. Truist Financial reduced their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a buy rating for the company in a research note on Friday, August 9th. Citigroup reduced their price objective on Martin Marietta Materials from $658.00 to $646.00 and set a buy rating for the company in a research report on Monday, August 12th. Loop Capital dropped their target price on Martin Marietta Materials from $630.00 to $615.00 and set a buy rating on the stock in a research report on Tuesday, August 13th. Stephens cut their target price on Martin Marietta Materials from $650.00 to $610.00 and set an overweight rating on the stock in a research note on Friday, August 9th. Finally, Jefferies Financial Group raised their price target on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the stock a buy rating in a research note on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $629.82.

Martin Marietta Materials Stock Down 0.4 %

Shares of Martin Marietta Materials stock opened at $546.29 on Tuesday. The company has a market capitalization of $33.67 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. The business has a 50-day moving average of $540.85 and a two-hundred day moving average of $567.21. Martin Marietta Materials has a 1 year low of $389.90 and a 1 year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the company posted $5.60 earnings per share. Martin Marietta Materials’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, equities analysts predict that Martin Marietta Materials will post 19.33 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a $0.79 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.36%.

Hedge Funds Weigh In On Martin Marietta Materials

Institutional investors have recently bought and sold shares of the business. Ables Iannone Moore & Associates Inc. bought a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $25,000. Newbridge Financial Services Group Inc. boosted its position in Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after purchasing an additional 37 shares during the period. Riverview Trust Co acquired a new position in shares of Martin Marietta Materials in the first quarter valued at $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials in the first quarter valued at about $31,000. Finally, Fortitude Family Office LLC lifted its stake in shares of Martin Marietta Materials by 186.4% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Company Profile

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.