Martin Marietta Materials (NYSE:MLM) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Martin Marietta Materials (NYSE:MLMGet Rating) from a sell rating to a hold rating in a research note released on Monday morning.

MLM has been the topic of a number of other reports. DA Davidson dropped their price objective on shares of Martin Marietta Materials from $450.00 to $375.00 and set a buy rating on the stock in a report on Friday, July 1st. Wolfe Research raised shares of Martin Marietta Materials from a peer perform rating to an outperform rating and dropped their price objective for the company from $406.00 to $384.00 in a report on Thursday, July 14th. Morgan Stanley boosted their price objective on shares of Martin Marietta Materials from $394.00 to $420.00 and gave the company an overweight rating in a report on Monday. Truist Financial dropped their price objective on shares of Martin Marietta Materials to $392.00 in a report on Tuesday, July 5th. Finally, TheStreet lowered shares of Martin Marietta Materials from a b rating to a c+ rating in a report on Tuesday, May 10th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $418.10.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $354.17 on Monday. The business’s fifty day simple moving average is $321.50 and its 200-day simple moving average is $353.20. The company has a market cap of $22.09 billion, a PE ratio of 27.73, a PEG ratio of 1.78 and a beta of 0.88. The company has a current ratio of 3.63, a quick ratio of 2.53 and a debt-to-equity ratio of 0.74. Martin Marietta Materials has a 12-month low of $284.99 and a 12-month high of $446.46.

Martin Marietta Materials (NYSE:MLMGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The construction company reported $3.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.13). The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.59 billion. Martin Marietta Materials had a return on equity of 11.28% and a net margin of 13.49%. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.81 earnings per share. Analysts expect that Martin Marietta Materials will post 12.87 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 1st were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Tuesday, May 31st. Martin Marietta Materials’s payout ratio is currently 19.11%.

Institutional Investors Weigh In On Martin Marietta Materials

Hedge funds have recently modified their holdings of the company. Mutual of America Capital Management LLC boosted its stake in shares of Martin Marietta Materials by 1.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 8,325 shares of the construction company’s stock worth $3,204,000 after acquiring an additional 88 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Martin Marietta Materials by 0.6% during the 4th quarter. Victory Capital Management Inc. now owns 38,963 shares of the construction company’s stock worth $17,164,000 after purchasing an additional 248 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of Martin Marietta Materials during the 1st quarter worth about $417,000. Nomura Asset Management Co. Ltd. raised its position in shares of Martin Marietta Materials by 2.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 13,016 shares of the construction company’s stock worth $5,734,000 after purchasing an additional 293 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its position in shares of Martin Marietta Materials by 48.1% during the 1st quarter. Valeo Financial Advisors LLC now owns 1,069 shares of the construction company’s stock worth $411,000 after purchasing an additional 347 shares during the last quarter. 93.49% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Company Profile

(Get Rating)

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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Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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