Martin Marietta Materials, Inc. (NYSE:MLM) saw a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 2,927,100 shares, a decline of 18.7% from the May 15th total of 3,599,600 shares. Approximately 4.7% of the shares of the stock are short sold. Based on an average trading volume of 562,700 shares, the short-interest ratio is presently 5.2 days.
A number of analysts have commented on the stock. Bank of America lowered shares of Propetro from a “buy” rating to a “neutral” rating in a report on Tuesday, April 16th. Citigroup lifted their target price on shares of Martin Marietta Materials from $239.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Berenberg Bank reaffirmed a “buy” rating and set a GBX 3,620 ($47.30) target price on shares of Bellway in a report on Wednesday, April 3rd. JPMorgan Chase & Co. lowered shares of VESTAS WIND SYS/ADR from a “neutral” rating to an “underweight” rating in a report on Thursday, March 21st. Finally, DA Davidson lowered their target price on shares of Cloudera to $9.00 and set a “buy” rating for the company in a report on Thursday, June 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. Martin Marietta Materials presently has an average rating of “Buy” and a consensus target price of $221.87.
MLM traded up $1.50 during trading on Friday, hitting $226.50. The company had a trading volume of 386,487 shares, compared to its average volume of 417,770. The stock has a market capitalization of $14.18 billion, a P/E ratio of 28.00, a PEG ratio of 2.21 and a beta of 1.14. Martin Marietta Materials has a one year low of $150.75 and a one year high of $232.81. The stock has a 50-day moving average of $223.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.81 and a quick ratio of 0.96.
Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Tuesday, April 30th. The construction company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.29 by $0.39. The business had revenue of $938.96 million for the quarter, compared to analysts’ expectations of $881.82 million. Martin Marietta Materials had a net margin of 11.48% and a return on equity of 10.82%. The firm’s revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 EPS. Equities research analysts predict that Martin Marietta Materials will post 9.27 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were given a $0.48 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.92 annualized dividend and a yield of 0.85%. Martin Marietta Materials’s dividend payout ratio is currently 23.73%.
In related news, SVP Donald A. Mccunniff sold 3,183 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $220.19, for a total value of $700,864.77. Following the completion of the sale, the senior vice president now owns 16,724 shares of the company’s stock, valued at $3,682,457.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Laree E. Perez sold 824 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $231.80, for a total transaction of $191,003.20. Following the completion of the sale, the director now directly owns 14,136 shares of the company’s stock, valued at approximately $3,276,724.80. The disclosure for this sale can be found here. Insiders sold 18,675 shares of company stock valued at $4,125,869 in the last quarter. 0.73% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of MLM. Vanguard Group Inc grew its holdings in shares of Martin Marietta Materials by 0.4% during the 3rd quarter. Vanguard Group Inc now owns 6,653,036 shares of the construction company’s stock worth $1,210,520,000 after purchasing an additional 28,832 shares during the period. LPL Financial LLC lifted its stake in Martin Marietta Materials by 37.8% during the 4th quarter. LPL Financial LLC now owns 6,083 shares of the construction company’s stock worth $1,046,000 after acquiring an additional 1,670 shares in the last quarter. Utah Retirement Systems lifted its stake in Martin Marietta Materials by 0.9% during the 4th quarter. Utah Retirement Systems now owns 11,750 shares of the construction company’s stock worth $2,019,000 after acquiring an additional 100 shares in the last quarter. BlackRock Inc. lifted its stake in Martin Marietta Materials by 0.9% during the 4th quarter. BlackRock Inc. now owns 3,945,492 shares of the construction company’s stock worth $678,110,000 after acquiring an additional 34,666 shares in the last quarter. Finally, Ffcm LLC lifted its stake in Martin Marietta Materials by 220.2% during the 4th quarter. Ffcm LLC now owns 775 shares of the construction company’s stock worth $133,000 after acquiring an additional 533 shares in the last quarter.
About Martin Marietta Materials
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 offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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.
Read More: Why Invest in Dividend Achievers?
Receive News & Ratings for Martin Marietta Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials and related companies with MarketBeat.com's FREE daily email newsletter.