Martin Marietta Materials, Inc. (MLM) Lifted to Hold at BidaskClub
BidaskClub upgraded shares of Martin Marietta Materials, Inc. (NYSE:MLM) from a sell rating to a hold rating in a report issued on Thursday.
Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Martin Marietta Materials from a sell rating to a hold rating in a research note on Tuesday, April 18th. Stephens boosted their target price on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the company an equal weight rating in a research note on Thursday, May 4th. Citigroup Inc. began coverage on shares of Martin Marietta Materials in a research note on Wednesday, March 29th. They set a buy rating and a $245.00 target price for the company. Cleveland Research upgraded shares of Martin Marietta Materials from a neutral rating to a buy rating in a research note on Friday, March 31st. Finally, Stifel Nicolaus boosted their target price on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the company a buy rating in a research note on Wednesday, May 3rd. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Martin Marietta Materials currently has a consensus rating of Hold and an average target price of $229.29.
Shares of Martin Marietta Materials (MLM) opened at 231.71 on Thursday. The firm has a market cap of $14.55 billion, a PE ratio of 34.97 and a beta of 1.21. The company’s 50-day moving average is $230.98 and its 200-day moving average is $223.45. Martin Marietta Materials has a 52 week low of $167.06 and a 52 week high of $244.32.
Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, May 2nd. The construction company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.05. Martin Marietta Materials had a net margin of 10.91% and a return on equity of 10.32%. The firm had revenue of $791.70 million during the quarter, compared to analyst estimates of $729.28 million. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts forecast that Martin Marietta Materials will post $7.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 1st will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $1.68 annualized dividend and a dividend yield of 0.72%. Martin Marietta Materials’s dividend payout ratio is currently 25.42%.
In other news, CFO Anne H. Lloyd sold 6,472 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $238.73, for a total transaction of $1,545,060.56. Following the completion of the transaction, the chief financial officer now owns 69,941 shares in the company, valued at $16,697,014.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Donald A. Mccunniff sold 1,391 shares of the company’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $240.17, for a total transaction of $334,076.47. Following the transaction, the senior vice president now owns 19,858 shares of the company’s stock, valued at approximately $4,769,295.86. The disclosure for this sale can be found here. Insiders have sold 18,121 shares of company stock valued at $4,332,440 in the last 90 days. Insiders own 1.06% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. First Personal Financial Services raised its position in Martin Marietta Materials by 4.5% in the first quarter. First Personal Financial Services now owns 513 shares of the construction company’s stock valued at $112,000 after buying an additional 22 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Martin Marietta Materials during the fourth quarter valued at approximately $177,000. FNY Partners Fund LP purchased a new position in Martin Marietta Materials during the first quarter valued at approximately $174,000. Calamos Advisors LLC purchased a new position in Martin Marietta Materials during the fourth quarter valued at approximately $206,000. Finally, Frontier Wealth Management LLC purchased a new position in Martin Marietta Materials during the fourth quarter valued at approximately $208,000. Institutional investors and hedge funds own 97.23% of the company’s stock.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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