Martin Marietta Materials (NYSE:MLM) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Martin Marietta Materials (NYSE:MLM) from a sell rating to a hold rating in a report released on Friday morning.

Other analysts also recently issued reports about the company. UBS Group initiated coverage on Martin Marietta Materials in a research note on Thursday. They issued a “buy” rating and a $730.00 price target for the company. Jefferies Financial Group lowered their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. JPMorgan Chase & Co. cut their price objective on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Loop Capital lifted their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus target price of $634.85.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock traded up $2.42 during midday trading on Friday, reaching $619.58. 402,853 shares of the company’s stock were exchanged, compared to its average volume of 466,622. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The stock’s 50-day simple moving average is $549.06 and its 200 day simple moving average is $556.83. The firm has a market cap of $37.87 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 4.12 and a beta of 0.90. Martin Marietta Materials has a 52 week low of $448.73 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.94 EPS. On average, analysts expect that Martin Marietta Materials will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be issued a $0.79 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 0.51%. Martin Marietta Materials’s payout ratio is 9.85%.

Institutional Trading of Martin Marietta Materials

Large investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. grew its stake in Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after purchasing an additional 37 shares during the period. Asset Dedication LLC boosted its holdings in shares of Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares in the last quarter. First Personal Financial Services acquired a new stake in shares of Martin Marietta Materials during the 3rd quarter worth approximately $33,000. Fortitude Family Office LLC grew its holdings in Martin Marietta Materials by 186.4% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after purchasing an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Martin Marietta Materials during the first quarter valued at about $41,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Company Profile

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.