Martin Marietta Materials (NYSE:MLM) Price Target Cut to $702.00 by Analysts at Morgan Stanley

Martin Marietta Materials (NYSE:MLM) had its target price cut by Morgan Stanley from $706.00 to $702.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

MLM has been the topic of several other research reports. B. Riley Financial began coverage on Martin Marietta Materials in a research report on Thursday, January 15th. They set a “neutral” rating and a $700.00 price target on the stock. Weiss Ratings downgraded Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. DA Davidson set a $680.00 target price on shares of Martin Marietta Materials in a research note on Thursday, February 12th. Citigroup boosted their target price on shares of Martin Marietta Materials from $780.00 to $804.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $785.00 price target on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $696.88.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $612.67 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. The business has a 50-day moving average of $656.97 and a 200-day moving average of $633.23. The stock has a market capitalization of $36.95 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 2.34 and a beta of 1.13. Martin Marietta Materials has a fifty-two week low of $441.95 and a fifty-two week high of $710.97.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.19). Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the company posted $4.79 EPS. The business’s revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts predict that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 17.66%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Optima Capital LLC acquired a new stake in Martin Marietta Materials during the 4th quarter valued at $25,000. Quent Capital LLC acquired a new position in shares of Martin Marietta Materials in the third quarter valued at $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Martin Marietta Materials in the third quarter valued at $27,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials in the second quarter valued at about $28,000. Finally, Garton & Associates Financial Advisors LLC bought a new position in shares of Martin Marietta Materials in the fourth quarter valued at about $31,000. 95.04% of the stock is owned by institutional investors and hedge funds.

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.