Martin Marietta Materials Inc. (NYSE:MLM) was downgraded by equities researchers at Stephens from an “overweight” rating to an “equal weight” rating in a report issued on Thursday.

A number of other research analysts have also recently issued reports on MLM. Jefferies Group reaffirmed a “hold” rating on shares of Martin Marietta Materials in a report on Monday, August 1st. DA Davidson increased their target price on shares of Martin Marietta Materials from $190.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Zacks Investment Research cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Goldman Sachs Group Inc. cut shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating and dropped their target price for the company from $210.00 to $202.00 in a report on Tuesday, October 11th. Finally, SunTrust Banks Inc. raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $206.00 target price for the company in a report on Wednesday, October 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $203.43.

Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

Shares of Martin Marietta Materials (NYSE:MLM) opened at 220.85 on Thursday. The stock has a market cap of $14.02 billion, a price-to-earnings ratio of 34.85 and a beta of 1.35. The stock’s 50 day moving average is $188.46 and its 200 day moving average is $188.64. Martin Marietta Materials has a 52-week low of $108.31 and a 52-week high of $236.41.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, November 1st. The company reported $2.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.57 by $0.08. Martin Marietta Materials had a net margin of 11.03% and a return on equity of 9.95%. The company earned $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the business posted $2.04 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts expect that Martin Marietta Materials will post $7.14 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 1st will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.68 dividend on an annualized basis and a yield of 0.76%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 26.50%.

In related news, EVP Roselyn R. Bar sold 2,313 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $228.33, for a total transaction of $528,127.29. Following the sale, the executive vice president now owns 46,032 shares in the company, valued at $10,510,486.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Dana F. Guzzo sold 2,389 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $227.18, for a total transaction of $542,733.02. Following the sale, the senior vice president now owns 16,837 shares in the company, valued at approximately $3,825,029.66. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MLM. Northwestern Mutual Wealth Management Co. raised its stake in shares of Martin Marietta Materials by 1.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 530 shares of the company’s stock worth $101,000 after buying an additional 5 shares during the period. Carroll Financial Associates Inc. raised its position in shares of Martin Marietta Materials by 1.4% in the third quarter. Carroll Financial Associates Inc. now owns 750 shares of the company’s stock worth $134,000 after buying an additional 10 shares during the period. Conning Inc. raised its position in shares of Martin Marietta Materials by 0.6% in the third quarter. Conning Inc. now owns 1,770 shares of the company’s stock worth $317,000 after buying an additional 10 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of Martin Marietta Materials by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,550 shares of the company’s stock worth $636,000 after buying an additional 10 shares during the period. Finally, Creative Planning raised its position in shares of Martin Marietta Materials by 0.8% in the second quarter. Creative Planning now owns 1,730 shares of the company’s stock worth $332,000 after buying an additional 14 shares during the period. Hedge funds and other institutional investors own 96.36% of the company’s stock.

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.

5 Day Chart for NYSE:MLM

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