Martin Marietta Materials (NYSE:MLM – Free Report) 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.
View Our Latest Analysis on Martin Marietta Materials
Martin Marietta Materials Stock Performance
Martin Marietta Materials (NYSE:MLM – Get Free Report) 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.
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