Bank of America Corp. cut shares of Martin Marietta Materials Inc. (NYSE:MLM) from a buy rating to a neutral rating in a report released on Wednesday. The analysts noted that the move was a valuation call.

Other research analysts also recently issued reports about the stock. DA Davidson raised their price target 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 downgraded shares of Martin Marietta Materials from a strong-buy rating to a hold rating in a report on Tuesday, July 19th. Jefferies Group reaffirmed a hold rating on shares of Martin Marietta Materials in a report on Monday, August 1st. Goldman Sachs Group Inc. downgraded shares of Martin Marietta Materials from a buy rating to a neutral rating and dropped their price objective for the stock 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 price objective for the company in a report on Wednesday, October 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Martin Marietta Materials presently has an average rating of Hold and a consensus target price of $203.43.

Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

Martin Marietta Materials (NYSE:MLM) traded down 1.30% during mid-day trading on Wednesday, reaching $217.97. The company had a trading volume of 636,393 shares. The firm has a market capitalization of $13.83 billion, a price-to-earnings ratio of 34.40 and a beta of 1.35. Martin Marietta Materials has a 12-month low of $108.31 and a 12-month high of $236.41. The firm has a 50-day moving average price of $188.46 and a 200 day moving average price of $188.64.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $2.49 EPS for the quarter, missing the Thomson Reuters’ 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 firm earned $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $2.04 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts expect that Martin Marietta Materials will post $7.14 EPS for the current year.

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

In other Martin Marietta Materials news, SVP Daniel L. Grant sold 1,038 shares of the company’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $224.89, for a total value of $233,435.82. Following the sale, the senior vice president now owns 12,609 shares in the company, valued at $2,835,638.01. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Dana F. Guzzo sold 2,389 shares of the company’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $227.18, for a total transaction of $542,733.02. Following the completion of 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. 1.06% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Martin Marietta Materials by 1.5% in the second quarter. Vanguard Group Inc. now owns 5,793,679 shares of the company’s stock worth $1,112,385,000 after buying an additional 84,814 shares during the period. State Street Corp increased its position in shares of 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 shares of 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. BlackRock Institutional Trust Company N.A. increased its position in shares of Martin Marietta Materials by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,617,425 shares of the company’s stock valued at $289,697,000 after buying an additional 12,992 shares in the last quarter. Finally, Egerton Capital UK LLP increased its position in shares of 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. Institutional investors and hedge funds 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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