Martin Marietta Materials (NYSE:MLM) PT Lowered to $658.00 at Citigroup

Martin Marietta Materials (NYSE:MLM) had its price objective trimmed by Citigroup from $696.00 to $658.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Other research analysts also recently issued research reports about the company. Truist Financial boosted their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group upped their price objective on Martin Marietta Materials from $642.00 to $737.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Loop Capital lowered their price objective on Martin Marietta Materials from $710.00 to $630.00 and set a buy rating for the company in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. Finally, Stifel Nicolaus lowered their price objective on Martin Marietta Materials from $650.00 to $630.00 and set a buy rating for the company in a research note on Wednesday, July 3rd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of Moderate Buy and an average target price of $613.00.

Martin Marietta Materials Stock Down 0.2 %

Shares of NYSE MLM opened at $554.52 on Thursday. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. The company has a market cap of $34.18 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 2.46 and a beta of 0.91. Martin Marietta Materials has a 12 month low of $389.90 and a 12 month high of $626.67. The stock has a 50-day moving average price of $563.23 and a two-hundred day moving average price of $559.94.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.88 by $0.05. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.16 earnings per share. As a group, analysts forecast that Martin Marietta Materials will post 23.03 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio is presently 8.77%.

Institutional Trading of Martin Marietta Materials

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MLM. Ables Iannone Moore & Associates Inc. bought a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $25,000. Pinnacle Bancorp Inc. bought a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $26,000. Riverview Trust Co bought a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $26,000. Exchange Traded Concepts LLC bought a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $27,000. Finally, Benjamin Edwards Inc. boosted its holdings in shares of Martin Marietta Materials by 78.8% during the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after buying an additional 26 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

About Martin Marietta Materials

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.