Martin Marietta Materials, Inc. (NYSE:MLM) has earned a consensus rating of “Hold” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $240.50.
MLM has been the subject of a number of research reports. Citigroup reaffirmed a “buy” rating and issued a $260.00 price objective (down previously from $270.00) on shares of Martin Marietta Materials in a research note on Monday, October 9th. Jefferies Group reiterated a “buy” rating and set a $240.00 price target on shares of Martin Marietta Materials in a report on Wednesday, October 11th. Bank of America lowered their price target on shares of Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating for the company in a report on Thursday, October 19th. SunTrust Banks reiterated a “buy” rating and set a $228.00 price target on shares of Martin Marietta Materials in a report on Friday, October 27th. Finally, DA Davidson reiterated a “hold” rating and set a $225.00 price target on shares of Martin Marietta Materials in a report on Friday, November 3rd.
Large investors have recently bought and sold shares of the stock. Iridian Asset Management LLC CT raised its holdings in Martin Marietta Materials by 54.6% in the 3rd quarter. Iridian Asset Management LLC CT now owns 1,785,402 shares of the construction company’s stock worth $368,203,000 after purchasing an additional 630,357 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Martin Marietta Materials by 22.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,578,296 shares of the construction company’s stock worth $323,552,000 after purchasing an additional 285,376 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Martin Marietta Materials by 20.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,660,752 shares of the construction company’s stock worth $342,497,000 after purchasing an additional 282,189 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in Martin Marietta Materials by 18,467.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 269,606 shares of the construction company’s stock worth $55,601,000 after purchasing an additional 268,154 shares in the last quarter. Finally, CI Investments Inc. bought a new position in Martin Marietta Materials in the 3rd quarter worth $54,546,000. Institutional investors own 97.37% of the company’s stock.
Shares of Martin Marietta Materials (MLM) traded up $1.12 during trading on Tuesday, hitting $230.76. 479,369 shares of the stock were exchanged, compared to its average volume of 575,774. Martin Marietta Materials has a 12 month low of $191.09 and a 12 month high of $244.32. The stock has a market cap of $14,505.57, a PE ratio of 33.64, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The company has a quick ratio of 1.50, a current ratio of 2.73 and a debt-to-equity ratio of 0.38.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, November 2nd. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.45 by ($0.06). Martin Marietta Materials had a net margin of 11.03% and a return on equity of 10.39%. The business had revenue of $1.02 million during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the company posted $2.49 EPS. Martin Marietta Materials’s revenue for the quarter was down 1.5% on a year-over-year basis. analysts predict that Martin Marietta Materials will post 6.82 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 1st were issued a dividend of $0.44 per share. The ex-dividend date was Thursday, November 30th. This represents a $1.76 dividend on an annualized basis and a yield of 0.76%. Martin Marietta Materials’s dividend payout ratio is currently 25.66%.
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About Martin Marietta Materials
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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