Martin Marietta Materials (NYSE:MLM) Earns Neutral Rating from Analysts at B. Riley

B. Riley assumed coverage on shares of Martin Marietta Materials (NYSE:MLM) in a report issued on Thursday, Marketbeat reports. The brokerage issued a neutral rating and a $700.00 price target on the construction company’s stock.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group raised their price objective on Martin Marietta Materials from $725.00 to $730.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Barclays raised their price target on Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, October 20th. UBS Group lifted their price objective on Martin Marietta Materials from $705.00 to $723.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. raised their target price on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Finally, Citigroup boosted their price target on shares of Martin Marietta Materials from $754.00 to $758.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $670.63.

Martin Marietta Materials Trading Up 1.8%

Martin Marietta Materials stock opened at $652.35 on Thursday. The stock has a market cap of $39.34 billion, a P/E ratio of 34.39 and a beta of 1.15. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.07. Martin Marietta Materials has a 1 year low of $441.95 and a 1 year high of $668.83. The firm’s 50 day moving average price is $626.04 and its 200-day moving average price is $612.42.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $2.06 billion. Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%. On average, equities analysts predict that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were given a $0.83 dividend. The ex-dividend date was Monday, December 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 17.50%.

Institutional Investors Weigh In On Martin Marietta Materials

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quent Capital LLC purchased a new position in shares of Martin Marietta Materials during the 3rd quarter worth about $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in Martin Marietta Materials in the third quarter worth about $27,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Martin Marietta Materials during the second quarter valued at approximately $28,000. Redmont Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials during the third quarter valued at approximately $32,000. Finally, NewSquare Capital LLC raised its holdings in shares of Martin Marietta Materials by 62.2% in the second quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock worth $33,000 after buying an additional 23 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

About Martin Marietta Materials

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.