Barclays Reaffirms “Hold” Rating for Martin Marietta Materials (NYSE:MLM)

Barclays reiterated their hold rating on shares of Martin Marietta Materials (NYSE:MLM) in a research note released on Wednesday, AnalystRatings.com reports. Barclays currently has a $284.00 target price on the construction company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Bank of America upgraded shares of Martin Marietta Materials from an underperform rating to a neutral rating in a research report on Tuesday. Longbow Research set a $265.00 price objective on shares of Martin Marietta Materials and gave the company a buy rating in a research report on Friday, August 30th. Jefferies Financial Group raised their price objective on shares of Martin Marietta Materials from $265.00 to $290.00 and gave the company a buy rating in a research report on Wednesday, July 31st. BNP Paribas began coverage on shares of Martin Marietta Materials in a research report on Wednesday, October 9th. They issued an underperform rating for the company. Finally, ValuEngine cut shares of Martin Marietta Materials from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $246.09.

MLM stock traded down $1.24 during trading on Wednesday, hitting $265.78. 465,161 shares of the stock traded hands, compared to its average volume of 507,427. Martin Marietta Materials has a one year low of $150.75 and a one year high of $275.99. The stock has a market cap of $16.67 billion, a price-to-earnings ratio of 32.85, a P/E/G ratio of 2.66 and a beta of 1.11. The company has a 50 day simple moving average of $263.66 and a 200 day simple moving average of $234.83. The company has a current ratio of 1.86, a quick ratio of 1.08 and a debt-to-equity ratio of 0.62.

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

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.55 per share. 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 annualized dividend and a dividend yield of 0.83%. Martin Marietta Materials’s payout ratio is currently 27.19%.

In other news, EVP Roselyn R. Bar sold 2,821 shares of Martin Marietta Materials stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $246.93, for a total transaction of $696,589.53. Following the completion of the sale, the executive vice president now owns 57,149 shares in the company, valued at approximately $14,111,802.57. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman C Howard Nye sold 11,224 shares of Martin Marietta Materials 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 sale, the chairman now owns 158,885 shares of the company’s stock, valued at approximately $38,713,919.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,485 shares of company stock valued at $5,317,618. 0.73% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Destination Wealth Management grew its holdings in Martin Marietta Materials by 825.0% during the second quarter. Destination Wealth Management now owns 111 shares of the construction company’s stock valued at $26,000 after purchasing an additional 99 shares during the period. Rational Advisors LLC grew its holdings in Martin Marietta Materials by 2,160.0% during the second quarter. Rational Advisors LLC now owns 113 shares of the construction company’s stock valued at $26,000 after purchasing an additional 108 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in Martin Marietta Materials during the second quarter valued at approximately $31,000. Capital Investment Advisory Services LLC grew its holdings in Martin Marietta Materials by 153.3% during the second quarter. Capital Investment Advisory Services LLC now owns 152 shares of the construction company’s stock valued at $34,000 after purchasing an additional 92 shares during the period. Finally, Commonwealth Bank of Australia grew its holdings in Martin Marietta Materials by 28.1% during the second quarter. Commonwealth Bank of Australia now owns 196 shares of the construction company’s stock valued at $43,000 after purchasing an additional 43 shares during the period.

Martin Marietta Materials Company Profile

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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Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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