Martin Marietta Materials (NYSE:MLM) Price Target Cut to $630.00 by Analysts at Raymond James

Martin Marietta Materials (NYSE:MLM) had its price objective cut by Raymond James from $640.00 to $630.00 in a report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the construction company’s stock.

Other research analysts have also issued research reports about the stock. Citigroup lowered their price objective on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Wolfe Research raised Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $515.00 to $640.00 in a research report on Wednesday, November 27th. Finally, Loop Capital raised their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus price target of $648.71.

Martin Marietta Materials Stock Down 0.1 %

Shares of Martin Marietta Materials stock opened at $530.94 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. Martin Marietta Materials has a 1-year low of $489.90 and a 1-year high of $633.23. The business’s fifty day moving average price is $557.47 and its two-hundred day moving average price is $550.78. The company has a market capitalization of $32.45 billion, a P/E ratio of 16.55, a PEG ratio of 2.97 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). The company had revenue of $1.89 billion during 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 business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $6.94 EPS. As a group, research analysts forecast that Martin Marietta Materials will post 17.6 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were given a $0.79 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.60%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

Institutional Investors Weigh In On Martin Marietta Materials

A number of institutional investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. increased its holdings in shares of 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 purchasing an additional 37 shares during the period. Asset Dedication LLC increased its stake in Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares during the period. First Personal Financial Services purchased a new stake in Martin Marietta Materials in the 3rd quarter worth approximately $33,000. Retirement Wealth Solutions LLC purchased a new position in shares of Martin Marietta Materials during the 4th quarter valued at $41,000. Finally, Larson Financial Group LLC acquired a new position in shares of Martin Marietta Materials in the third quarter worth $49,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Company Profile

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.