Deutsche Bank assumed coverage on shares of Martin Marietta Materials (NYSE:MLM) in a research report released on Thursday, January 3rd, MarketBeat.com reports. The firm issued a buy rating and a $198.00 price target on the construction company’s stock.
A number of other research analysts have also weighed in on the company. Zacks Investment Research reaffirmed a strong sell rating on shares of Martin Marietta Materials in a report on Monday, December 31st. Stifel Nicolaus reaffirmed a buy rating on shares of Martin Marietta Materials in a report on Wednesday, December 19th. SunTrust Banks dropped their price objective on Martin Marietta Materials to $205.00 and set a buy rating on the stock in a report on Thursday, November 15th. ValuEngine raised Martin Marietta Materials from a sell rating to a hold rating in a report on Thursday, November 15th. Finally, Stephens set a $204.00 target price on Martin Marietta Materials and gave the company a hold rating in a report on Tuesday, November 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Martin Marietta Materials currently has an average rating of Hold and a consensus price target of $214.90.
Shares of NYSE MLM opened at $177.99 on Thursday. The company has a market capitalization of $11.25 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.88 and a quick ratio of 1.04. Martin Marietta Materials has a twelve month low of $150.75 and a twelve month high of $241.33.
Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, November 6th. The construction company reported $2.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.64 by $0.21. Martin Marietta Materials had a return on equity of 10.78% and a net margin of 17.95%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the company posted $2.39 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Martin Marietta Materials will post 8.08 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 31st. Shareholders of record on Monday, December 3rd were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.08%. The ex-dividend date was Friday, November 30th. Martin Marietta Materials’s dividend payout ratio (DPR) is 26.74%.
In other news, SVP Donald A. Mccunniff sold 1,476 shares of the company’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $185.50, for a total value of $273,798.00. Following the sale, the senior vice president now directly owns 14,467 shares in the company, valued at $2,683,628.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John J. Koraleski acquired 1,000 shares of Martin Marietta Materials stock in a transaction dated Friday, December 14th. The stock was bought at an average price of $174.07 per share, for a total transaction of $174,070.00. Following the completion of the transaction, the director now directly owns 2,172 shares of the company’s stock, valued at $378,080.04. The disclosure for this purchase can be found here. 0.75% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of MLM. Sawtooth Solutions LLC lifted its position in Martin Marietta Materials by 35.5% during the third quarter. Sawtooth Solutions LLC now owns 1,244 shares of the construction company’s stock worth $226,000 after buying an additional 326 shares during the period. Private Advisor Group LLC lifted its position in Martin Marietta Materials by 34.4% during the third quarter. Private Advisor Group LLC now owns 1,384 shares of the construction company’s stock worth $252,000 after buying an additional 354 shares during the period. Tocqueville Asset Management L.P. lifted its position in Martin Marietta Materials by 1.0% during the second quarter. Tocqueville Asset Management L.P. now owns 37,350 shares of the construction company’s stock worth $8,341,000 after buying an additional 365 shares during the period. Envestnet Asset Management Inc. lifted its position in Martin Marietta Materials by 1.7% during the second quarter. Envestnet Asset Management Inc. now owns 22,584 shares of the construction company’s stock worth $5,044,000 after buying an additional 368 shares during the period. Finally, AXA lifted its position in Martin Marietta Materials by 3.5% during the third quarter. AXA now owns 10,978 shares of the construction company’s stock worth $1,998,000 after buying an additional 370 shares during the period.
Martin Marietta Materials Company Profile
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 internationally. The company provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; 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.
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