Martin Marietta Materials, Inc. (NYSE: MLM) Receives Consensus “Buy” Rating from Brokerages


Martin Marietta Materials, Inc. (New York Stock Exchange: MLMGet a rating) received an average rating of “Buy” from the twelve rating agencies that currently cover the company, market beat reports. One research analyst rated the stock with a sell recommendation, two issued a hold recommendation and seven issued a buy recommendation on the company. The 12-month average target price among brokers who updated their coverage on the stock in the past year is $444.40.

MLM has been the subject of several research reports. Morgan Stanley lowered its price target on shares of Martin Marietta Materials from $470.00 to $441.00 and set an “overweight” rating on the stock in a Monday, April 18 report. TheStreet downgraded shares of Martin Marietta Materials from a “b” rating to a “c+” rating in a Tuesday, May 10 report. DA Davidson lowered its price target on shares of Martin Marietta Materials from $465.00 to $450.00 in a Monday, February 14 report. StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a Thursday, May 12, report. Finally, Barclays lowered its price target on Martin Marietta Materials shares from $485.00 to $450.00 and set an “overweight” rating on the stock in a Friday, February 11 report.

Several institutional investors have recently increased or reduced their stake in the company. Walleye Capital LLC increased its position in Martin Marietta Materials shares by 4.9% during the first quarter. Walleye Capital LLC now owns 1,805 shares of the construction company valued at $695,000 after buying 84 additional shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Martin Marietta Materials by 4.3% in the first quarter. The Manufacturers Life Insurance Company now owns 49,464 shares of the construction company worth $19,038,000 after buying 2,047 more shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Martin Marietta Materials by 41.1% in the first quarter. BNP Paribas Arbitrage SA now owns 17,909 shares in the construction company worth $6,893,000 after buying an additional 5,214 shares in the last quarter. O Brien Greene & Co. Inc increased its position in Martin Marietta Materials by 8.8% in the first quarter. O Brien Greene & Co. Inc now owns 1,110 shares of the construction company worth $427,000 after buying 90 more shares in the last quarter. Finally, Wealthfront Advisers LLC increased its position in Martin Marietta Materials by 11.1% in the first quarter. Wealthfront Advisers LLC now owns 3,523 shares of the construction company worth $1,356,000 after buying 353 additional shares in the last quarter. Hedge funds and other institutional investors hold 93.49% of the company’s shares.

Shares of NYSEMLM opened at $349.45 on Friday. The company’s 50-day moving average price is $359.36 and its 200-day moving average price is $387.83. The company has a quick ratio of 1.69, a current ratio of 2.79 and a debt ratio of 0.79. The company has a market capitalization of $21.79 billion, a PE ratio of 33.22, a PEG ratio of 1.43 and a beta of 0.79. Martin Marietta Materials has a 52-week low of $316.73 and a 52-week high of $446.46.

Martin Marietta Materials (New York Stock Exchange: MLMGet a rating) last announced its quarterly results on Tuesday, May 3. The construction company reported earnings per share (EPS) of $0.39 for the quarter, missing consensus analyst estimates of $0.71 per ($0.32). The company posted revenue of $1.23 billion for the quarter, versus $1.13 billion for analysts. Martin Marietta Materials achieved a net margin of 11.63% and a return on equity of 11.42%. The company’s revenues increased by 25.3% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $1.04. As a group, equity research analysts expect Martin Marietta Materials to post EPS of 13.43 for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30. Shareholders of record on Wednesday, June 1 will receive a dividend of $0.61 per share. This represents an annualized dividend of $2.44 and a yield of 0.70%. The ex-dividend date is Tuesday, May 31. Martin Marietta Materials’ dividend payout ratio is currently 23.19%.

About Martin Marietta Materials (Get a rating)

Martin Marietta Materials, Inc., a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and around the world. 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 infrastructure projects and the non-residential and residential construction markets, as well as the railroad, agricultural, utility and environmental industries.

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