Martin Marietta Materials (NYSE:MLM) Hits New 12-Month Low at $299.92

Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $299.92 and last traded at $302.00, with a volume of 21780 shares. The stock had previously closed at $303.56.

MLM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $420.00 to $410.00 in a research report on Friday, June 3rd. Morgan Stanley decreased their target price on Martin Marietta Materials from $470.00 to $441.00 and set an “overweight” rating on the stock in a research report on Monday, April 18th. StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. Finally, TheStreet downgraded Martin Marietta Materials from a “b” rating to a “c+” rating in a research report on Tuesday, May 10th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $445.80.

The stock has a market capitalization of $18.87 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 1.34 and a beta of 0.79. The company has a 50 day moving average of $343.45 and a 200 day moving average of $378.38. The company has a quick ratio of 1.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.79.

Martin Marietta Materials (NYSE:MLMGet Rating) last released its earnings results on Tuesday, May 3rd. The construction company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.32). The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.13 billion. Martin Marietta Materials had a net margin of 11.63% and a return on equity of 11.42%. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 earnings per share. On average, research analysts forecast that Martin Marietta Materials, Inc. will post 13.47 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 1st will be paid a $0.61 dividend. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $2.44 annualized dividend and a yield of 0.81%. Martin Marietta Materials’s payout ratio is currently 23.19%.

A number of hedge funds have recently bought and sold shares of MLM. Marshall Wace North America L.P. purchased a new stake in Martin Marietta Materials during the first quarter valued at about $62,000. Amundi Pioneer Asset Management Inc. boosted its position in shares of Martin Marietta Materials by 18.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 26,779 shares of the construction company’s stock worth $5,387,000 after buying an additional 4,176 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Martin Marietta Materials by 1.5% in the third quarter. Neuberger Berman Group LLC now owns 2,631 shares of the construction company’s stock worth $847,000 after buying an additional 39 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of Martin Marietta Materials by 208.7% in the third quarter. Cubist Systematic Strategies LLC now owns 5,248 shares of the construction company’s stock worth $1,793,000 after buying an additional 3,548 shares during the period. Finally, LPL Financial LLC boosted its position in shares of Martin Marietta Materials by 10.1% in the third quarter. LPL Financial LLC now owns 13,199 shares of the construction company’s stock worth $4,510,000 after buying an additional 1,216 shares during the period. 93.49% of the stock is owned by hedge funds and other institutional investors.

About Martin Marietta Materials (NYSE:MLM)

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.

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