Martin Marietta Materials (NYSE:MLM) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of Martin Marietta Materials (NYSE:MLMGet Rating) from a sell rating to a hold rating in a report published on Wednesday.

A number of other equities research analysts have also weighed in on MLM. DA Davidson lowered their price objective on shares of Martin Marietta Materials from $465.00 to $450.00 in a report on Monday, February 14th. Barclays lowered their price target on shares of Martin Marietta Materials from $485.00 to $450.00 and set an overweight rating for the company in a report on Friday, February 11th. Finally, Morgan Stanley lowered their price target on shares of Martin Marietta Materials from $470.00 to $441.00 and set an overweight rating for the company in a report on Monday, April 18th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials presently has a consensus rating of Buy and a consensus price target of $443.30.

Shares of MLM stock opened at $377.57 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.69 and a current ratio of 2.69. Martin Marietta Materials has a 52 week low of $329.69 and a 52 week high of $446.46. The stock has a market capitalization of $23.55 billion, a PE ratio of 35.89, a PEG ratio of 1.42 and a beta of 0.79. The stock’s fifty day moving average is $374.06 and its 200-day moving average is $395.29.

Martin Marietta Materials (NYSE:MLMGet Rating) last announced its earnings results on Tuesday, May 3rd. The construction company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.44). Martin Marietta Materials had a return on equity of 12.31% and a net margin of 12.98%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the company earned $1.04 EPS. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. As a group, analysts forecast that Martin Marietta Materials will post 13.46 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Tuesday, March 1st were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 0.65%. The ex-dividend date was Monday, February 28th. Martin Marietta Materials’s dividend payout ratio (DPR) is 23.19%.

Hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its stake in Martin Marietta Materials by 15.7% during the 4th quarter. Baillie Gifford & Co. now owns 4,342,622 shares of the construction company’s stock valued at $1,913,012,000 after acquiring an additional 590,221 shares during the period. BlackRock Inc. increased its holdings in Martin Marietta Materials by 1.3% in the 3rd quarter. BlackRock Inc. now owns 4,149,870 shares of the construction company’s stock worth $1,417,929,000 after acquiring an additional 53,775 shares in the last quarter. Select Equity Group L.P. increased its holdings in Martin Marietta Materials by 1.7% in the 4th quarter. Select Equity Group L.P. now owns 3,505,954 shares of the construction company’s stock worth $1,544,443,000 after acquiring an additional 60,234 shares in the last quarter. State Street Corp increased its holdings in Martin Marietta Materials by 0.5% in the 4th quarter. State Street Corp now owns 2,781,701 shares of the construction company’s stock worth $1,225,395,000 after acquiring an additional 13,649 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Martin Marietta Materials by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 1,178,310 shares of the construction company’s stock valued at $517,730,000 after buying an additional 25,083 shares in the last quarter. 93.49% of the stock is currently owned by institutional investors.

Martin Marietta Materials Company Profile (Get Rating)

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.

Featured Articles

Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

Receive News & Ratings for Martin Marietta Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials and related companies with MarketBeat.com's FREE daily email newsletter.