Goldman Sachs Group Inc. cut shares of Martin Marietta Materials Inc. (NYSE:MLM) from a buy rating to a neutral rating in a report issued on Tuesday. They currently have $202.00 price target on the stock, down from their previous price target of $210.00.
Several other equities analysts have also commented on the stock. DA Davidson reiterated a hold rating and set a $210.00 price objective on shares of Martin Marietta Materials in a research report on Sunday, October 9th. Zacks Investment Research lowered shares of Martin Marietta Materials from a hold rating to a sell rating in a research report on Tuesday, October 4th. Jefferies Group reiterated a hold rating on shares of Martin Marietta Materials in a research report on Wednesday, August 31st. Finally, Bank of America Corp. reiterated a buy rating on shares of Martin Marietta Materials in a research report on Friday, June 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Martin Marietta Materials presently has a consensus rating of Hold and an average target price of $203.00.
Shares of Martin Marietta Materials (NYSE:MLM) traded up 0.57% during trading on Tuesday, hitting $174.36. 26,332 shares of the company traded hands. Martin Marietta Materials has a 52 week low of $108.31 and a 52 week high of $206.36. The company has a market capitalization of $11.06 billion, a price-to-earnings ratio of 31.06 and a beta of 1.36. The company has a 50 day moving average price of $178.86 and a 200 day moving average price of $183.46.
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, analysts expect 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 0.97%. 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 related news, EVP Roselyn R. Bar sold 5,830 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $199.98, for a total value of $1,165,883.40. Following the transaction, the executive vice president now owns 42,588 shares of the company’s stock, valued at approximately $8,516,748.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David G. Maffucci sold 6,779 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $199.90, for a total transaction of $1,355,122.10. Following the completion of the transaction, the director now directly owns 20,326 shares in the company, valued at approximately $4,063,167.40. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of MLM. Vigilant Capital Management LLC bought a new position in Martin Marietta Materials during the third quarter valued at approximately $4,315,000. National Pension Service increased its position in Martin Marietta Materials by 9.3% in the third quarter. National Pension Service now owns 49,387 shares of the company’s stock valued at $8,846,000 after buying an additional 4,209 shares in the last quarter. Capstone Asset Management Co. increased its position in Martin Marietta Materials by 1.8% in the third quarter. Capstone Asset Management Co. now owns 10,454 shares of the company’s stock valued at $1,872,000 after buying an additional 184 shares in the last quarter. Atria Investments LLC increased its position in Martin Marietta Materials by 35.9% in the third quarter. Atria Investments LLC now owns 1,561 shares of the company’s stock valued at $280,000 after buying an additional 412 shares in the last quarter. Finally, First National Bank of Omaha increased its position in Martin Marietta Materials by 35.8% in the third quarter. First National Bank of Omaha now owns 27,388 shares of the company’s stock valued at $4,905,000 after buying an additional 7,224 shares in the last quarter. 97.11% of the stock is currently owned by institutional investors.
Martin Marietta Materials Company Profile
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.
Receive News & Ratings for Martin Marietta Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.