Martin Marietta Materials Inc. (MLM) Rating Reiterated by DA Davidson
Martin Marietta Materials Inc. (NYSE:MLM)‘s stock had its “hold” rating reissued by research analysts at DA Davidson in a research report issued to clients and investors on Sunday. They presently have a $210.00 target price on the stock. DA Davidson’s target price suggests a potential upside of 23.44% from the company’s current price.
Other equities analysts have also issued research reports about the stock. Jefferies Group reiterated a “hold” rating on shares of Martin Marietta Materials in a research report on Monday, August 1st. Zacks Investment Research lowered shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Finally, Bank of America Corp. reiterated a “buy” rating on shares of Martin Marietta Materials in a research report on Friday, June 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $204.17.
Shares of Martin Marietta Materials (NYSE:MLM) opened at 170.12 on Friday. The stock’s 50 day moving average is $182.11 and its 200-day moving average is $183.06. The company has a market cap of $10.79 billion, a price-to-earnings ratio of 30.31 and a beta of 1.36. Martin Marietta Materials has a 52 week low of $108.31 and a 52 week high of $206.36.
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Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, August 2nd. The company reported $1.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.02 by $0.12. Martin Marietta Materials had a return on equity of 9.36% and a net margin of 9.96%. The company had revenue of $915.40 million for the quarter, compared to the consensus estimate of $953.30 million. During the same quarter in the prior year, the company posted $1.22 EPS. Martin Marietta Materials’s revenue was up 7.7% compared to the same quarter last year. On average, equities analysts anticipate that Martin Marietta Materials will post $7.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 1st were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Tuesday, August 30th. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.40. Martin Marietta Materials’s dividend payout ratio (DPR) is 30.05%.
In other news, Director David G. Maffucci sold 6,779 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $199.90, for a total value of $1,355,122.10. Following the completion of the sale, the director now owns 20,326 shares in the company, valued at approximately $4,063,167.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roselyn R. Bar sold 5,830 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $199.98, for a total transaction of $1,165,883.40. Following the completion of the sale, the executive vice president now owns 42,588 shares of the company’s stock, valued at approximately $8,516,748.24. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Martin Marietta Materials by 1.5% in the second quarter. Vanguard Group Inc. now owns 5,793,679 shares of the company’s stock valued at $1,112,385,000 after buying an additional 84,814 shares in the last quarter. State Street Corp increased its position in Martin Marietta Materials by 0.7% in the second quarter. State Street Corp now owns 2,568,734 shares of the company’s stock valued at $493,188,000 after buying an additional 17,761 shares in the last quarter. FMR LLC increased its position in Martin Marietta Materials by 16.7% in the second quarter. FMR LLC now owns 2,362,045 shares of the company’s stock valued at $453,512,000 after buying an additional 338,399 shares in the last quarter. Egerton Capital UK LLP increased its position in Martin Marietta Materials by 53.4% in the second quarter. Egerton Capital UK LLP now owns 1,472,952 shares of the company’s stock valued at $282,807,000 after buying an additional 512,574 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in Martin Marietta Materials by 0.5% in the second quarter. BlackRock Fund Advisors now owns 1,054,041 shares of the company’s stock valued at $202,376,000 after buying an additional 5,549 shares in the last quarter. Hedge funds and other institutional investors own 97.18% of the company’s stock.
About Martin Marietta Materials
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand and gravel) for the construction industry, used for the construction of infrastructure, non-residential, and residential projects. The Company operates through three businesses: Aggregates Business, Cement Business and Magnesia Specialties Business.
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