Martin Marietta Materials (NYSE:MLM) Upgraded 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 issued to investors on Thursday morning.

MLM has been the subject of several other research reports. Truist Financial decreased their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Stephens dropped their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Citigroup cut their price objective on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. Loop Capital boosted their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, UBS Group began coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $730.00 price target for the company. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $634.85.

Martin Marietta Materials Stock Up 1.1 %

Shares of MLM stock opened at $591.87 on Thursday. The company has a market capitalization of $36.18 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 3.89 and a beta of 0.90. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials has a 12-month low of $456.83 and a 12-month high of $633.23. The firm has a fifty day moving average of $563.67 and a 200-day moving average of $556.76.

Martin Marietta Materials (NYSE:MLM) last released its quarterly 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 firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same period last year, the company earned $6.94 EPS. As a group, equities research analysts predict that Martin Marietta Materials will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 0.53%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

Hedge Funds Weigh In On Martin Marietta Materials

A number of large investors have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. grew its holdings in Martin Marietta Materials by 411.1% in 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 boosted its position in shares of Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares during the period. First Personal Financial Services acquired a new position in shares of Martin Marietta Materials in the third quarter valued at about $33,000. Fortitude Family Office LLC increased its position in Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after acquiring an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new stake in Martin Marietta Materials in the 1st quarter worth about $41,000. Institutional investors own 95.04% of the company’s stock.

About Martin Marietta Materials

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.