Martin Marietta Materials (NYSE:MLM) Given New $600.00 Price Target at Citigroup

Martin Marietta Materials (NYSE:MLM) had its price objective cut by Citigroup from $701.00 to $600.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other research firms have also issued reports on MLM. Loop Capital increased their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. UBS Group began coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $730.00 target price for the company. Morgan Stanley lowered their price target on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. Finally, BNP Paribas cut Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $649.54.

Martin Marietta Materials Trading Down 0.1 %

NYSE MLM opened at $516.24 on Monday. The firm’s 50 day moving average price is $569.75 and its two-hundred day moving average price is $552.12. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. Martin Marietta Materials has a twelve month low of $485.31 and a twelve month high of $633.23. The stock has a market cap of $31.55 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 3.74 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. 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 firm posted $6.94 EPS. Equities analysts anticipate that Martin Marietta Materials will post 17.58 EPS for the current year.

Martin Marietta Materials Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. grew its position in shares of Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after purchasing an additional 37 shares during the last quarter. Asset Dedication LLC boosted its stake in 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 purchasing an additional 52 shares during the period. First Personal Financial Services acquired a new stake in Martin Marietta Materials in the 3rd quarter valued at approximately $33,000. Larson Financial Group LLC bought a new position in Martin Marietta Materials in the 3rd quarter worth approximately $49,000. Finally, Tobam lifted its holdings in shares of Martin Marietta Materials by 38.8% during the third quarter. Tobam now owns 93 shares of the construction company’s stock worth $50,000 after buying an additional 26 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

About Martin Marietta Materials

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.