BidaskClub upgraded shares of Martin Marietta Materials (NYSE:MLM) from a hold rating to a buy rating in a research report released on Wednesday morning, BidAskClub reports.
MLM has been the subject of several other reports. Stifel Nicolaus lifted their price objective on Martin Marietta Materials from $284.00 to $310.00 and gave the stock a buy rating in a report on Tuesday, December 15th. Truist raised their price target on Martin Marietta Materials from $233.00 to $290.00 in a research report on Wednesday, November 18th. The Goldman Sachs Group downgraded shares of Martin Marietta Materials from a buy rating to a neutral rating and set a $277.00 price objective for the company. in a report on Thursday, November 19th. TheStreet raised shares of Martin Marietta Materials from a c+ rating to a b- rating in a report on Friday, September 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Martin Marietta Materials from $311.00 to $318.00 and gave the stock a buy rating in a report on Monday, November 23rd. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Martin Marietta Materials has an average rating of Hold and a consensus price target of $249.78.
Shares of MLM stock opened at $275.05 on Wednesday. The stock has a fifty day moving average price of $269.69 and a 200 day moving average price of $235.88. The stock has a market cap of $17.13 billion, a PE ratio of 25.71, a P/E/G ratio of 4.94 and a beta of 0.71. Martin Marietta Materials has a 1 year low of $135.08 and a 1 year high of $287.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.85 and a current ratio of 3.27.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, October 29th. The construction company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.95. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Martin Marietta Materials had a return on equity of 12.22% and a net margin of 14.38%. Martin Marietta Materials’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.96 earnings per share. As a group, equities research analysts predict that Martin Marietta Materials will post 10.73 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 1st will be issued a $0.57 dividend. The ex-dividend date is Monday, November 30th. This represents a $2.28 annualized dividend and a yield of 0.83%. Martin Marietta Materials’s dividend payout ratio (DPR) is 23.41%.
In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,004 shares of the company’s stock in a transaction that occurred on Tuesday, November 24th. The stock was sold at an average price of $274.64, for a total value of $2,747,498.56. Following the completion of the transaction, the executive vice president now owns 64,120 shares of the company’s stock, valued at approximately $17,609,916.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.73% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Smithfield Trust Co. lifted its holdings in shares of Martin Marietta Materials by 34.1% in the third quarter. Smithfield Trust Co. now owns 173 shares of the construction company’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. Trust Investment Advisors increased its position in Martin Marietta Materials by 2.9% during the 3rd quarter. Trust Investment Advisors now owns 1,859 shares of the construction company’s stock worth $438,000 after buying an additional 53 shares during the period. Alps Advisors Inc. increased its position in Martin Marietta Materials by 6.0% during the 3rd quarter. Alps Advisors Inc. now owns 1,238 shares of the construction company’s stock worth $291,000 after buying an additional 70 shares during the period. Norinchukin Bank The increased its position in Martin Marietta Materials by 1.4% during the 3rd quarter. Norinchukin Bank The now owns 5,231 shares of the construction company’s stock worth $1,231,000 after buying an additional 71 shares during the period. Finally, Wetherby Asset Management Inc. increased its position in Martin Marietta Materials by 9.3% during the 3rd quarter. Wetherby Asset Management Inc. now owns 1,222 shares of the construction company’s stock worth $287,000 after buying an additional 104 shares during the period. 93.20% of the stock is owned by institutional investors and hedge funds.
About Martin Marietta Materials
Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy 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; Portland and specialty cement used 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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