Martin Marietta Materials (NYSE:MLM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Martin Marietta Materials (NYSE:MLM) from a sell rating to a hold rating in a research note published on Monday.

MLM has been the topic of a number of other research reports. Morgan Stanley lowered their target price on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. Weiss Ratings upgraded shares of Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, June 25th. Raymond James Financial decreased their price objective on Martin Marietta Materials from $690.00 to $675.00 and set an “outperform” rating on the stock in a report on Wednesday, July 15th. B. Riley Financial upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective on the stock in a research note on Thursday, April 2nd. Finally, Citigroup increased their target price on Martin Marietta Materials from $731.00 to $737.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $681.53.

Martin Marietta Materials Stock Up 0.7%

Shares of MLM stock opened at $551.30 on Monday. The stock has a market cap of $33.11 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10. Martin Marietta Materials has a one year low of $525.38 and a one year high of $710.97. The stock has a fifty day moving average price of $576.52 and a 200 day moving average price of $611.15. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm posted $1.90 EPS. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. Analysts predict that Martin Marietta Materials will post 19.43 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were given a dividend of $0.83 per share. The ex-dividend date was Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is 7.91%.

Institutional Investors Weigh In On Martin Marietta Materials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Optima Capital LLC bought a new stake in shares of Martin Marietta Materials during the fourth quarter valued at approximately $25,000. CoreCap Advisors LLC lifted its holdings in Martin Marietta Materials by 370.0% during the 2nd quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock worth $27,000 after buying an additional 37 shares in the last quarter. Meeder Asset Management Inc. boosted its position in Martin Marietta Materials by 67.9% in the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after buying an additional 19 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at $31,000. Finally, Reflection Asset Management bought a new stake in shares of Martin Marietta Materials during the fourth quarter worth $35,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.