Investment Analysts’ Recent Ratings Changes for Martin Marietta Materials (MLM)

A number of firms have modified their ratings and price targets on shares of Martin Marietta Materials (NYSE: MLM) recently:

  • 10/16/2019 – Martin Marietta Materials had its “hold” rating reaffirmed by analysts at Barclays PLC. They now have a $284.00 price target on the stock.
  • 10/16/2019 – Martin Marietta Materials had its price target raised by analysts at SunTrust Banks, Inc. from $235.00 to $285.00. They now have a “buy” rating on the stock.
  • 10/15/2019 – Martin Marietta Materials was upgraded by analysts at Bank of America Corp from an “underperform” rating to a “neutral” rating.
  • 10/9/2019 – Martin Marietta Materials is now covered by analysts at Exane BNP Paribas. They set an “underperform” rating on the stock.
  • 10/9/2019 – Martin Marietta Materials is now covered by analysts at BNP Paribas. They set an “underperform” rating on the stock.
  • 10/2/2019 – Martin Marietta Materials was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 9/5/2019 – Martin Marietta Materials had its price target raised by analysts at JPMorgan Chase & Co. from $265.00 to $285.00. They now have an “overweight” rating on the stock.
  • 8/30/2019 – Martin Marietta Materials was given a new $265.00 price target on by analysts at Longbow Research. They now have a “buy” rating on the stock.

Shares of Martin Marietta Materials stock opened at $264.90 on Friday. The stock has a market cap of $16.72 billion, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 2.67 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.08 and a current ratio of 1.86. The stock has a 50 day moving average price of $265.12 and a 200-day moving average price of $236.71. Martin Marietta Materials, Inc. has a one year low of $150.75 and a one year high of $275.99.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, July 30th. The construction company reported $3.01 EPS for the quarter, missing the Zacks’ consensus estimate of $3.08 by ($0.07). The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Martin Marietta Materials had a return on equity of 10.35% and a net margin of 11.37%. Martin Marietta Materials’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.25 EPS. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 9.42 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a $0.55 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.83%. Martin Marietta Materials’s payout ratio is 27.19%.

In related news, Chairman C Howard Nye sold 11,224 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $243.66, for a total transaction of $2,734,839.84. Following the completion of the sale, the chairman now directly owns 158,885 shares of the company’s stock, valued at approximately $38,713,919.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roselyn R. Bar sold 2,821 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $246.93, for a total value of $696,589.53. Following the sale, the executive vice president now directly owns 57,149 shares of the company’s stock, valued at $14,111,802.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,485 shares of company stock valued at $5,317,618. Company insiders own 0.73% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Raymond James Trust N.A. raised its position in Martin Marietta Materials by 10.8% during the 3rd quarter. Raymond James Trust N.A. now owns 1,152 shares of the construction company’s stock valued at $316,000 after purchasing an additional 112 shares in the last quarter. Railway Pension Investments Ltd bought a new stake in Martin Marietta Materials during the 3rd quarter valued at $2,137,000. Fiduciary Financial Services of The Southwest Inc. TX raised its position in Martin Marietta Materials by 0.8% during the 3rd quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 8,519 shares of the construction company’s stock valued at $2,335,000 after purchasing an additional 70 shares in the last quarter. Rhumbline Advisers raised its position in Martin Marietta Materials by 1.4% during the 3rd quarter. Rhumbline Advisers now owns 101,447 shares of the construction company’s stock valued at $27,807,000 after purchasing an additional 1,421 shares in the last quarter. Finally, CWM LLC raised its position in Martin Marietta Materials by 13.2% during the 3rd quarter. CWM LLC now owns 351 shares of the construction company’s stock valued at $96,000 after purchasing an additional 41 shares in the last quarter.

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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.

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