Martin Marietta Materials (NYSE:MLM) Raised to “Outperform” at Exane BNP Paribas

Exane BNP Paribas upgraded shares of Martin Marietta Materials (NYSE:MLMGet Rating) from a neutral rating to an outperform rating in a research report report published on Tuesday morning, The Fly reports.

Other analysts also recently issued research reports about the company. Citigroup lifted their price target on Martin Marietta Materials to $410.00 in a research report on Tuesday, August 9th. Wolfe Research upgraded Martin Marietta Materials from a peer perform rating to an outperform rating and dropped their price target for the company from $406.00 to $384.00 in a research report on Thursday, July 14th. Raymond James reiterated an outperform rating and set a $410.00 price target on shares of Martin Marietta Materials in a research report on Friday, August 19th. TheStreet upgraded Martin Marietta Materials from a c+ rating to a b- rating in a research report on Wednesday, August 10th. Finally, Morgan Stanley lifted their price target on Martin Marietta Materials from $394.00 to $420.00 and gave the company an overweight rating in a research report on Monday, August 1st. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials presently has a consensus rating of Moderate Buy and an average price target of $411.18.

Martin Marietta Materials Stock Down 0.4 %

MLM stock opened at $327.70 on Tuesday. The company has a quick ratio of 2.53, a current ratio of 3.63 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $20.44 billion, a PE ratio of 25.66, a PEG ratio of 1.65 and a beta of 0.87. Martin Marietta Materials has a twelve month low of $284.99 and a twelve month high of $446.46. The stock has a 50-day simple moving average of $346.51 and a two-hundred day simple moving average of $345.98.

Martin Marietta Materials (NYSE:MLMGet Rating) last posted its earnings results on Thursday, July 28th. The construction company reported $3.96 earnings per share for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.13). The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Martin Marietta Materials had a net margin of 13.49% and a return on equity of 11.28%. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.81 EPS. On average, equities analysts predict that Martin Marietta Materials will post 13.27 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 1st will be paid a $0.66 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.61. This represents a $2.64 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Wednesday, August 31st. Martin Marietta Materials’s payout ratio is 20.67%.

Hedge Funds Weigh In On Martin Marietta Materials

A number of large investors have recently bought and sold shares of MLM. Charter Oak Capital Management LLC purchased a new position in Martin Marietta Materials in the 2nd quarter worth approximately $29,000. CX Institutional purchased a new position in Martin Marietta Materials in the 2nd quarter worth approximately $31,000. Private Trust Co. NA purchased a new position in Martin Marietta Materials in the 2nd quarter worth approximately $37,000. Clear Street Markets LLC increased its stake in Martin Marietta Materials by 407.7% in the 2nd quarter. Clear Street Markets LLC now owns 132 shares of the construction company’s stock worth $39,000 after purchasing an additional 106 shares during the period. Finally, Tcwp LLC purchased a new position in Martin Marietta Materials in the 1st quarter worth approximately $41,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

About Martin Marietta Materials

(Get Rating)

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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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