Shares of Martin Marietta Materials Inc. (NYSE:MLM) dropped 2.1% on Thursday . The company traded as low as $191.16 and last traded at $191.42, with a volume of 261,782 shares trading hands. The stock had previously closed at $195.45.

MLM has been the topic of a number of analyst reports. DA Davidson lifted their price target on Martin Marietta Materials from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Zacks Investment Research downgraded Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Alembic Global Advisors initiated coverage on Martin Marietta Materials in a research note on Thursday, June 9th. They issued an “overweight” rating and a $220.00 price target on the stock. Bank of America Corp. restated a “buy” rating on shares of Martin Marietta Materials in a research note on Friday, June 17th. Finally, Jefferies Group restated a “hold” rating on shares of Martin Marietta Materials in a research note on Monday, August 1st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Martin Marietta Materials has an average rating of “Buy” and a consensus price target of $201.86.

The stock has a market cap of $12.13 billion and a P/E ratio of 34.07. The company has a 50 day moving average price of $197.78 and a 200-day moving average price of $175.37.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, August 2nd. The company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by $0.12. The business earned $915.40 million during the quarter, compared to the consensus estimate of $953.30 million. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 earnings per share. Analysts predict that Martin Marietta Materials Inc. will post $7.26 EPS for the current year.

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 given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Tuesday, August 30th. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.40.

In other news, Director Stephen P. Zelnak, Jr. sold 17,000 shares of the stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $187.75, for a total transaction of $3,191,750.00. Following the sale, the director now directly owns 19,689 shares in the company, valued at approximately $3,696,609.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David G. Maffucci sold 6,779 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $199.90, for a total value of $1,355,122.10. Following the sale, the director now owns 20,326 shares in the company, valued at $4,063,167.40. The disclosure for this sale can be found here.

Several hedge funds recently made changes to their positions in the company. Utah Retirement Systems boosted its stake in shares of Martin Marietta Materials by 0.8% in the fourth quarter. Utah Retirement Systems now owns 12,150 shares of the company’s stock worth $1,659,000 after buying an additional 100 shares during the last quarter. Airain ltd bought a new stake in shares of Martin Marietta Materials during the fourth quarter worth $1,201,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Martin Marietta Materials by 28.7% in the fourth quarter. Wells Fargo & Company MN now owns 105,627 shares of the company’s stock worth $14,426,000 after buying an additional 23,572 shares during the last quarter.

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand and gravel) for the construction industry, used for the construction of infrastructure, non-residential, and residential projects. The Company operates through three businesses: Aggregates Business, Cement Business and Magnesia Specialties Business.

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