Martin Marietta Materials Inc. (MLM) Receives “Hold” Rating from DA Davidson
A number of other research firms have also recently weighed in on MLM. Zacks Investment Research cut shares of Martin Marietta Materials from a strong-buy rating to a hold rating in a research note on Tuesday, July 19th. Bank of America Corp. reaffirmed a buy rating on shares of Martin Marietta Materials in a research note on Friday, June 17th. Finally, Jefferies Group reissued a hold rating on shares of Martin Marietta Materials in a research note on Wednesday, August 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $204.17.
Shares of Martin Marietta Materials (NYSE:MLM) opened at 170.12 on Friday. The stock has a market capitalization of $10.79 billion, a P/E ratio of 30.31 and a beta of 1.36. Martin Marietta Materials has a 1-year low of $108.31 and a 1-year high of $206.36. The stock has a 50 day moving average of $182.11 and a 200-day moving average of $183.06.
Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.02 by $0.12. Martin Marietta Materials had a return on equity of 9.36% and a net margin of 9.96%. The company had revenue of $915.40 million for the quarter, compared to analyst estimates of $953.30 million. During the same period last year, the company earned $1.22 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts predict that Martin Marietta Materials will post $7.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.42 per share. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Tuesday, August 30th. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 30.05%.
In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 5,830 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $199.98, for a total transaction of $1,165,883.40. Following the sale, the executive vice president now directly owns 42,588 shares of the company’s stock, valued at approximately $8,516,748.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David G. Maffucci sold 6,779 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $199.90, for a total transaction of $1,355,122.10. Following the sale, the director now directly owns 20,326 shares in the company, valued at $4,063,167.40. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Martin Marietta Materials by 1.5% in the second quarter. Vanguard Group Inc. now owns 5,793,679 shares of the company’s stock valued at $1,112,385,000 after buying an additional 84,814 shares in the last quarter. State Street Corp boosted its stake in Martin Marietta Materials by 0.7% in the second quarter. State Street Corp now owns 2,568,734 shares of the company’s stock valued at $493,188,000 after buying an additional 17,761 shares in the last quarter. FMR LLC boosted its stake in Martin Marietta Materials by 16.7% in the second quarter. FMR LLC now owns 2,362,045 shares of the company’s stock valued at $453,512,000 after buying an additional 338,399 shares in the last quarter. Egerton Capital UK LLP boosted its stake in Martin Marietta Materials by 53.4% in the second quarter. Egerton Capital UK LLP now owns 1,472,952 shares of the company’s stock valued at $282,807,000 after buying an additional 512,574 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in Martin Marietta Materials by 0.5% in the second quarter. BlackRock Fund Advisors now owns 1,054,041 shares of the company’s stock valued at $202,376,000 after buying an additional 5,549 shares in the last quarter. 97.18% of the stock is currently owned by institutional investors.
About Martin Marietta Materials
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.
Receive News & Ratings for Martin Marietta Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.