Martin Marietta Materials (NYSE:MLM) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Martin Marietta Materials (NYSE:MLM) from a sell rating to a hold rating in a report released on Monday.

A number of other equities analysts have also commented on the company. Citigroup lifted their price objective on Martin Marietta Materials from $731.00 to $737.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Raymond James Financial decreased their target price on Martin Marietta Materials from $690.00 to $675.00 and set an “outperform” rating for the company in a research note on Wednesday, July 15th. Wells Fargo & Company raised their target price on Martin Marietta Materials from $614.00 to $616.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Berenberg Bank set a $556.00 price target on Martin Marietta Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Finally, Barclays cut their price target on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Eleven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $681.53.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $553.50 on Monday. The firm has a market capitalization of $33.24 billion, a PE ratio of 13.19, a PEG ratio of 2.39 and a beta of 1.10. Martin Marietta Materials has a 1 year low of $525.38 and a 1 year high of $710.97. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The firm’s fifty day simple moving average is $577.70 and its 200 day simple moving average is $612.19.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the business earned $1.90 EPS. The business’s revenue was up 17.2% on a year-over-year basis. On average, sell-side analysts anticipate that Martin Marietta Materials will post 19.43 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is currently 7.91%.

Institutional Investors Weigh In On Martin Marietta Materials

Hedge funds have recently made changes to their positions in the stock. Whitener Capital Management Inc. grew its position in Martin Marietta Materials by 7.3% during the second quarter. Whitener Capital Management Inc. now owns 3,175 shares of the construction company’s stock worth $1,831,000 after buying an additional 215 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Martin Marietta Materials by 18.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 37,395 shares of the construction company’s stock valued at $21,566,000 after acquiring an additional 5,780 shares in the last quarter. Paladin Wealth LLC lifted its position in shares of Martin Marietta Materials by 19.0% in the 2nd quarter. Paladin Wealth LLC now owns 1,286 shares of the construction company’s stock worth $742,000 after acquiring an additional 205 shares during the period. Revolve Wealth Partners LLC bought a new stake in shares of Martin Marietta Materials in the 2nd quarter worth approximately $430,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Martin Marietta Materials by 69.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 805 shares of the construction company’s stock worth $464,000 after purchasing an additional 329 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

About Martin Marietta Materials

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.