Martin Marietta Materials (MLM) Earns Equal Weight Rating from Analysts at Barclays
Barclays initiated coverage on shares of Martin Marietta Materials (NYSE:MLM) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm issued an equal weight rating and a $227.00 price target on the construction company’s stock.
Other analysts have also recently issued research reports about the stock. DA Davidson reiterated a hold rating and issued a $225.00 price objective on shares of Martin Marietta Materials in a research note on Friday, November 3rd. SunTrust Banks reiterated a buy rating and issued a $228.00 price objective on shares of Martin Marietta Materials in a research note on Friday, October 27th. Zacks Investment Research upgraded shares of Martin Marietta Materials from a sell rating to a hold rating in a research note on Monday, September 4th. Jefferies Group reiterated a buy rating and issued a $240.00 price objective on shares of Martin Marietta Materials in a research note on Wednesday, October 11th. Finally, Citigroup reiterated a buy rating and issued a $260.00 price objective (down previously from $270.00) on shares of Martin Marietta Materials in a research note on Monday, October 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Martin Marietta Materials currently has a consensus rating of Hold and a consensus price target of $240.50.
Martin Marietta Materials (NYSE:MLM) traded up $2.24 during midday trading on Tuesday, hitting $204.44. 743,889 shares of the stock were exchanged, compared to its average volume of 513,927. The company has a current ratio of 2.73, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38. The firm has a market cap of $12,710.20, a PE ratio of 29.48, a PEG ratio of 2.11 and a beta of 1.12. Martin Marietta Materials has a one year low of $191.09 and a one year high of $244.32.
Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, November 2nd. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.06). Martin Marietta Materials had a return on equity of 10.39% and a net margin of 11.03%. The company had revenue of $1.02 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business posted $2.49 EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. equities analysts anticipate that Martin Marietta Materials will post 6.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, November 30th. Martin Marietta Materials’s dividend payout ratio is currently 25.66%.
A number of hedge funds have recently added to or reduced their stakes in MLM. Global X Management Co. LLC increased its holdings in Martin Marietta Materials by 42.3% in the 2nd quarter. Global X Management Co. LLC now owns 3,939 shares of the construction company’s stock valued at $877,000 after buying an additional 1,171 shares during the period. Rhumbline Advisers increased its holdings in Martin Marietta Materials by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 129,760 shares of the construction company’s stock valued at $28,882,000 after buying an additional 1,064 shares during the period. Advisors Asset Management Inc. increased its holdings in Martin Marietta Materials by 6.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 45,820 shares of the construction company’s stock valued at $10,199,000 after buying an additional 2,614 shares during the period. Dupont Capital Management Corp bought a new position in Martin Marietta Materials in the 2nd quarter valued at about $128,000. Finally, State of Wisconsin Investment Board grew its holdings in shares of Martin Marietta Materials by 37.4% during the 2nd quarter. State of Wisconsin Investment Board now owns 48,758 shares of the construction company’s stock valued at $10,853,000 after purchasing an additional 13,260 shares during the last quarter. 97.45% of the stock is currently owned by hedge funds and other institutional investors.
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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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