Martin Marietta Materials (NYSE:MLM) Lowered to “Neutral” at Atlantic Securities

Atlantic Securities downgraded shares of Martin Marietta Materials (NYSE:MLMGet Rating) from an overweight rating to a neutral rating in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. They currently have $350.00 target price on the construction company’s stock, down from their prior target price of $375.00.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Martin Marietta Materials from $410.00 to $395.00 in a research note on Thursday, December 8th. Citigroup upped their price objective on shares of Martin Marietta Materials from $385.00 to $406.00 in a research note on Tuesday, January 10th. StockNews.com started coverage on shares of Martin Marietta Materials in a research note on Wednesday, October 12th. They issued a hold rating for the company. DA Davidson reduced their target price on shares of Martin Marietta Materials from $395.00 to $385.00 in a report on Wednesday, October 12th. Finally, Raymond James reduced their target price on shares of Martin Marietta Materials from $410.00 to $380.00 in a report on Sunday, November 6th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has an average rating of Moderate Buy and a consensus target price of $395.55.

Martin Marietta Materials Stock Down 0.7 %

Shares of MLM opened at $346.42 on Tuesday. The firm has a market capitalization of $21.51 billion, a P/E ratio of 25.79, a P/E/G ratio of 1.77 and a beta of 0.88. Martin Marietta Materials has a 12-month low of $284.99 and a 12-month high of $406.85. The company has a current ratio of 2.01, a quick ratio of 1.43 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average price of $351.35 and a 200-day moving average price of $342.20.

Martin Marietta Materials (NYSE:MLMGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The construction company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.05). Martin Marietta Materials had a return on equity of 11.43% and a net margin of 13.59%. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Equities research analysts expect that Martin Marietta Materials will post 12.39 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Thursday, December 1st were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $2.64 annualized dividend and a dividend yield of 0.76%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 19.66%.

Hedge Funds Weigh In On Martin Marietta Materials

Several hedge funds have recently modified their holdings of MLM. Fiduciary Alliance LLC acquired a new position in shares of Martin Marietta Materials during the fourth quarter valued at about $28,000. Charter Oak Capital Management LLC acquired a new position in shares of Martin Marietta Materials during the second quarter valued at about $29,000. First Personal Financial Services acquired a new position in shares of Martin Marietta Materials during the third quarter valued at about $30,000. CX Institutional purchased a new stake in Martin Marietta Materials in the second quarter valued at approximately $31,000. Finally, Ronald Blue Trust Inc. boosted its position in Martin Marietta Materials by 64.9% in the fourth quarter. Ronald Blue Trust Inc. now owns 94 shares of the construction company’s stock valued at $31,000 after buying an additional 37 shares during the last quarter. Institutional investors and hedge funds own 93.07% of the company’s stock.

About Martin Marietta Materials

(Get Rating)

Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregated products only.

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Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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