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

Martin Marietta Materials logo with Construction background

Key Points

  • Martin Marietta Materials has been upgraded from a "sell" to a "hold" rating by analysts at Wall Street Zen.
  • Various analysts are optimistic about the stock, with target prices ranging from $605.00 to $700.00, indicating a consensus rating of "Moderate Buy".
  • The company reported quarterly earnings of $5.43 EPS, slightly missing consensus estimates, but its revenue was up 2.7% year-over-year.
  • Need Better Tools to Track Martin Marietta Materials? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Wall Street Zen upgraded shares of Martin Marietta Materials (NYSE:MLM - Free Report) from a sell rating to a hold rating in a report issued on Saturday.

A number of other equities analysts have also recently issued reports on the company. Raymond James Financial increased their target price on Martin Marietta Materials from $600.00 to $645.00 and gave the stock an "outperform" rating in a report on Friday. UBS Group raised Martin Marietta Materials from a "neutral" rating to a "buy" rating and lifted their target price for the company from $548.00 to $634.00 in a research report on Friday, May 16th. Morgan Stanley upped their target price on Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Stephens restated an "overweight" rating and set a $700.00 target price on shares of Martin Marietta Materials in a research note on Monday, August 4th. Finally, Royal Bank Of Canada increased their price target on Martin Marietta Materials from $515.00 to $525.00 and gave the company a "sector perform" rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Martin Marietta Materials has a consensus rating of "Moderate Buy" and a consensus target price of $615.60.

Read Our Latest Stock Report on MLM

Martin Marietta Materials Stock Performance

MLM stock traded up $11.79 during trading on Friday, reaching $612.09. 526,226 shares of the company's stock were exchanged, compared to its average volume of 426,730. Martin Marietta Materials has a 1-year low of $441.95 and a 1-year high of $633.23. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The company's fifty day moving average price is $561.39 and its 200-day moving average price is $528.28. The firm has a market cap of $36.92 billion, a PE ratio of 33.95, a P/E/G ratio of 5.58 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing the consensus estimate of $5.44 by ($0.01). The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The firm's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $4.76 earnings per share. On average, research analysts expect that Martin Marietta Materials will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were paid a $0.79 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials's dividend payout ratio is presently 17.53%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in Martin Marietta Materials by 5.4% during the fourth quarter. Wellington Management Group LLP now owns 448 shares of the construction company's stock valued at $231,000 after buying an additional 23 shares during the period. Bank of Nova Scotia boosted its stake in Martin Marietta Materials by 4.0% during the fourth quarter. Bank of Nova Scotia now owns 8,162 shares of the construction company's stock valued at $4,216,000 after buying an additional 312 shares during the period. Advisory Services Network LLC boosted its stake in Martin Marietta Materials by 6.6% during the fourth quarter. Advisory Services Network LLC now owns 1,496 shares of the construction company's stock valued at $773,000 after buying an additional 92 shares during the period. Treasurer of the State of North Carolina lifted its stake in Martin Marietta Materials by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 26,957 shares of the construction company's stock worth $13,923,000 after purchasing an additional 170 shares during the last quarter. Finally, Heritage Trust Co bought a new stake in Martin Marietta Materials during the fourth quarter worth about $239,000. Institutional investors own 95.04% of the company's stock.

About Martin Marietta Materials

(Get Free Report)

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.

See Also

Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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