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

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

Other research analysts have also issued reports about the stock. Truist Financial upped their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a buy rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. reaffirmed a neutral rating and set a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. StockNews.com downgraded shares of Martin Marietta Materials from a buy rating to a hold rating in a research note on Thursday, May 9th. Stifel Nicolaus reduced their price objective on Martin Marietta Materials from $650.00 to $630.00 and set a buy rating on the stock in a research note on Wednesday, July 3rd. Finally, Loop Capital reduced their price objective on Martin Marietta Materials from $710.00 to $630.00 and set a buy rating on the stock in a research note on Wednesday, July 3rd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials presently has an average rating of Moderate Buy and a consensus price target of $613.00.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $554.52 on Thursday. The stock has a market capitalization of $34.18 billion, a P/E ratio of 16.43, a P/E/G ratio of 2.46 and a beta of 0.91. Martin Marietta Materials has a 1 year low of $389.90 and a 1 year high of $626.67. The company’s fifty day moving average is $563.23 and its two-hundred day moving average is $560.36. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16.

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. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the firm earned $2.16 EPS. The business’s revenue was down 7.6% on a year-over-year basis. On average, sell-side analysts predict that Martin Marietta Materials will post 23.03 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MLM. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Martin Marietta Materials during the fourth quarter valued at $25,000. Pinnacle Bancorp Inc. acquired a new position in shares of Martin Marietta Materials during the fourth quarter valued at $26,000. Riverview Trust Co acquired a new position in shares of Martin Marietta Materials during the first quarter valued at $26,000. Exchange Traded Concepts LLC acquired a new position in shares of Martin Marietta Materials during the fourth quarter valued at $27,000. Finally, Benjamin Edwards Inc. increased its holdings in shares of Martin Marietta Materials by 78.8% during the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after purchasing an additional 26 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Company Profile

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.