Shares of Martin Marietta Materials Inc. (NYSE:MLM) were down 3.3% on Wednesday . The company traded as low as $181.97 and last traded at $182.67, with a volume of 550,642 shares trading hands. The stock had previously closed at $188.83.

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $201.00 target price on the stock in a report on Tuesday, June 28th. Bank of America Corp. restated a “buy” rating on shares of Martin Marietta Materials in a report on Friday, June 17th. Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $181.00 to $193.00 and gave the stock a “buy” rating in a report on Monday, May 9th. Goldman Sachs Group Inc. restated a “buy” rating and set a $209.00 target price (up from $191.00) on shares of Martin Marietta Materials in a report on Wednesday, June 8th. Finally, DA Davidson raised their target price on shares of Martin Marietta Materials from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $201.86.

The firm has a market cap of $11.62 billion and a P/E ratio of 32.63. The stock’s 50 day moving average price is $196.39 and its 200-day moving average price is $177.46.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 1st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.92%. The ex-dividend date is Tuesday, August 30th. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.40.

In other Martin Marietta Materials news, Director Stephen P. Zelnak, Jr. sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $188.90, for a total transaction of $566,700.00. Following the transaction, the director now directly owns 16,689 shares in the company, valued at approximately $3,152,552.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction, 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.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.