Martin Marietta Materials (NYSE:MLM) Hits New 12-Month Low – Here’s What Happened

Martin Marietta Materials, Inc. (NYSE:MLM)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $525.38 and last traded at $537.3740, with a volume of 147875 shares traded. The stock had previously closed at $555.78.

Analyst Ratings Changes

MLM has been the topic of a number of research reports. Zacks Research raised shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Wells Fargo & Company raised their target price on shares of Martin Marietta Materials from $608.00 to $614.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Loop Capital lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 target price on the stock. in a research report on Wednesday, January 28th. Barclays dropped their price objective on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Finally, UBS Group set a $739.00 price objective on shares of Martin Marietta Materials in a research note on Sunday, May 10th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $689.81.

Martin Marietta Materials Trading Down 3.7%

The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $598.01 and its 200-day moving average price is $625.02. The stock has a market capitalization of $32.13 billion, a P/E ratio of 12.75, a P/E/G ratio of 2.02 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the firm earned $1.90 earnings per share. The company’s quarterly revenue was up 17.2% on a year-over-year basis. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.32 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 7.91%.

Institutional Investors Weigh In On Martin Marietta Materials

Several institutional investors have recently bought and sold shares of the company. Lido Advisors LLC boosted its stake in Martin Marietta Materials by 0.8% in the fourth quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock valued at $1,209,000 after acquiring an additional 15 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in Martin Marietta Materials by 3.9% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock valued at $264,000 after acquiring an additional 16 shares in the last quarter. Harbour Investments Inc. boosted its stake in Martin Marietta Materials by 31.4% in the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock valued at $42,000 after acquiring an additional 16 shares in the last quarter. AMG National Trust Bank boosted its stake in Martin Marietta Materials by 3.6% in the first quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock valued at $291,000 after acquiring an additional 17 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Martin Marietta Materials by 0.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock valued at $1,361,000 after acquiring an additional 17 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.