Martin Marietta Materials (NYSE:MLM) Upgraded to “Outperform” by Exane BNP Paribas

Exane BNP Paribas upgraded shares of Martin Marietta Materials (NYSE:MLMGet Rating) from a neutral rating to an outperform rating in a research report report published on Tuesday morning, The Fly reports.

Other research analysts have also recently issued reports about the stock. Raymond James reiterated an outperform rating and set a $410.00 target price on shares of Martin Marietta Materials in a report on Friday, August 19th. Truist Financial lowered their target price on shares of Martin Marietta Materials to $392.00 in a research note on Tuesday, July 5th. StockNews.com upgraded Martin Marietta Materials from a sell rating to a hold rating in a report on Monday, August 1st. DA Davidson dropped their target price on Martin Marietta Materials from $450.00 to $375.00 and set a buy rating for the company in a research report on Friday, July 1st. Finally, Morgan Stanley boosted their price objective on Martin Marietta Materials from $394.00 to $420.00 and gave the stock an overweight rating in a research report on Monday, August 1st. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $411.18.

Martin Marietta Materials Trading Down 0.4 %

NYSE MLM opened at $334.57 on Tuesday. Martin Marietta Materials has a 12 month low of $284.99 and a 12 month high of $446.46. The stock has a market cap of $20.87 billion, a P/E ratio of 26.20, a P/E/G ratio of 1.63 and a beta of 0.87. The stock’s fifty day moving average price is $345.81 and its 200-day moving average price is $346.32. 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 (NYSE:MLMGet Rating) last posted its earnings results on Thursday, July 28th. The construction company reported $3.96 earnings per share for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.13). The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.59 billion. Martin Marietta Materials had a net margin of 13.49% and a return on equity of 11.28%. The firm’s revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.81 EPS. As a group, equities analysts forecast that Martin Marietta Materials will post 13.27 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 1st will be paid a $0.66 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.79%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.61. Martin Marietta Materials’s dividend payout ratio is 20.67%.

Hedge Funds Weigh In On Martin Marietta Materials

Several hedge funds have recently modified their holdings of MLM. Private Trust Co. NA acquired a new stake in Martin Marietta Materials during the second quarter worth approximately $37,000. Amundi lifted its holdings in Martin Marietta Materials by 18.4% in the second quarter. Amundi now owns 1,007,676 shares of the construction company’s stock valued at $314,617,000 after buying an additional 156,354 shares during the period. Verition Fund Management LLC lifted its holdings in Martin Marietta Materials by 53.6% in the second quarter. Verition Fund Management LLC now owns 3,916 shares of the construction company’s stock valued at $1,172,000 after buying an additional 1,367 shares during the period. M&G Investment Management Ltd. raised its holdings in shares of Martin Marietta Materials by 12.9% during the second quarter. M&G Investment Management Ltd. now owns 113,142 shares of the construction company’s stock valued at $33,829,000 after purchasing an additional 12,963 shares during the period. Finally, Captrust Financial Advisors raised its holdings in shares of Martin Marietta Materials by 48.2% in the 2nd quarter. Captrust Financial Advisors now owns 24,713 shares of the construction company’s stock worth $7,395,000 after acquiring an additional 8,042 shares during the last quarter. Institutional investors own 93.51% of the company’s stock.

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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