Martin Marietta Materials (NYSE:MLM) Upgraded at StockNews.com

StockNews.com upgraded shares of Martin Marietta Materials (NYSE:MLM) from a sell rating to a hold rating in a research note issued to investors on Thursday.

A number of other research analysts have also weighed in on MLM. Barclays raised their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. BNP Paribas downgraded shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Loop Capital increased their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $515.00 to $640.00 in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average target price of $643.36.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $517.31 on Thursday. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $565.01 and a 200 day simple moving average of $551.40. Martin Marietta Materials has a 12-month low of $488.30 and a 12-month high of $633.23. The company has a market cap of $31.62 billion, a P/E ratio of 16.12, a PEG ratio of 3.74 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm earned $6.94 earnings per share. The company’s revenue was down 5.3% on a year-over-year basis. Sell-side analysts predict that Martin Marietta Materials will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.61%. Martin Marietta Materials’s payout ratio is 9.85%.

Institutional Investors Weigh In On Martin Marietta Materials

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. boosted its position 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 lifted its stake 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 valued at $30,000 after buying an additional 52 shares in the last quarter. First Personal Financial Services bought a new position in Martin Marietta Materials in the 3rd quarter worth approximately $33,000. Larson Financial Group LLC purchased a new position in Martin Marietta Materials in the 3rd quarter valued at approximately $49,000. Finally, Tobam raised its holdings in Martin Marietta Materials by 38.8% during the 3rd quarter. Tobam now owns 93 shares of the construction company’s stock valued at $50,000 after acquiring an additional 26 shares during the period. 95.04% of the stock is currently owned by institutional investors.

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.