Martin Marietta Materials (NYSE:MLM) Rating Increased to Hold 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 released on Tuesday.

A number of other research analysts have also recently commented on MLM. Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Morgan Stanley reduced their target price on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Loop Capital upped their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $515.00 to $640.00 in a research note on Wednesday, November 27th. Finally, HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price on the stock in a research report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $648.71.

Martin Marietta Materials Trading Up 1.8 %

NYSE MLM opened at $552.43 on Tuesday. The business’s fifty day moving average is $554.49 and its 200-day moving average is $551.16. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The stock has a market capitalization of $33.76 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 3.17 and a beta of 0.91. Martin Marietta Materials has a one year low of $490.05 and a one year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its 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 company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm’s revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $6.94 earnings per share. Equities research analysts predict that Martin Marietta Materials will post 17.57 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a $0.79 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MLM. Newbridge Financial Services Group Inc. raised its holdings in shares of Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after buying an additional 37 shares in the last quarter. Asset Dedication LLC raised its stake in shares of Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares in the last quarter. First Personal Financial Services bought a new stake in shares of Martin Marietta Materials in the 3rd quarter worth approximately $33,000. Retirement Wealth Solutions LLC bought a new position in shares of Martin Marietta Materials during the 4th quarter valued at $41,000. Finally, Larson Financial Group LLC bought a new position in shares of Martin Marietta Materials during the 3rd quarter valued at $49,000. Institutional investors own 95.04% of the company’s stock.

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.