Martin Marietta Materials (NYSE:MLM) Upgraded at BNP Paribas

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, MarketBeat Ratings reports. BNP Paribas currently has $407.00 price objective on the construction company’s stock.

Several other equities research analysts have also recently weighed in on MLM. TheStreet upgraded shares of Martin Marietta Materials from a c+ rating to a b- rating in a research report on Wednesday, August 10th. 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. DA Davidson lowered their price target on shares of Martin Marietta Materials from $450.00 to $375.00 and set a buy rating for the company in a research report on Friday, July 1st. Wolfe Research upgraded shares of Martin Marietta Materials from a peer perform rating to an outperform rating and lowered their price target for the stock from $406.00 to $384.00 in a research report on Thursday, July 14th. Finally, Morgan Stanley lifted their price target on shares of Martin Marietta Materials from $394.00 to $420.00 and gave the stock an overweight rating in a research report on Monday, August 1st. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials has a consensus rating of Moderate Buy and a consensus target price of $411.18.

Martin Marietta Materials Trading Down 0.4 %

MLM opened at $327.70 on Tuesday. The company has a current ratio of 3.63, a quick ratio of 2.53 and a debt-to-equity ratio of 0.74. The stock 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 1-year low of $284.99 and a 1-year high of $446.46. The firm has a 50-day moving average price of $346.51 and a two-hundred day moving average price of $345.98.

Martin Marietta Materials (NYSE:MLMGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The construction company reported $3.96 earnings per share for the quarter, missing the consensus estimate of $4.09 by ($0.13). The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.59 billion. Martin Marietta Materials had a net margin of 13.49% and a return on equity of 11.28%. The company’s revenue was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.81 EPS. As a group, equities analysts anticipate that Martin Marietta Materials will post 13.27 earnings per share 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. The ex-dividend date is Wednesday, August 31st. This represents a $2.64 dividend on an annualized basis and a yield of 0.81%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.61. Martin Marietta Materials’s payout ratio is presently 20.67%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Charter Oak Capital Management LLC bought a new position in Martin Marietta Materials in the second quarter valued at approximately $29,000. CX Institutional bought a new position in Martin Marietta Materials in the second quarter valued at approximately $31,000. Private Trust Co. NA acquired a new stake in shares of Martin Marietta Materials in the second quarter valued at approximately $37,000. Clear Street Markets LLC raised its holdings in shares of Martin Marietta Materials by 407.7% in the second quarter. Clear Street Markets LLC now owns 132 shares of the construction company’s stock valued at $39,000 after purchasing an additional 106 shares during the last quarter. Finally, Tcwp LLC acquired a new stake in shares of Martin Marietta Materials in the first quarter valued at approximately $41,000. Institutional investors own 93.51% of the company’s stock.

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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Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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