Martin Marietta Materials (NYSE:MLM) Upgraded by Exane BNP Paribas to “Outperform”

Exane BNP Paribas upgraded shares of Martin Marietta Materials (NYSE:MLMGet Rating) from a neutral rating to an outperform rating in a report issued on Tuesday morning, The Fly reports.

Other research analysts also recently issued research reports about the company. TheStreet raised Martin Marietta Materials from a c+ rating to a b- rating in a report on Wednesday, August 10th. DA Davidson lowered their target price on Martin Marietta Materials from $450.00 to $375.00 and set a buy rating on the stock in a report on Friday, July 1st. StockNews.com upgraded Martin Marietta Materials from a sell rating to a hold rating in a research report on Monday, August 1st. Raymond James restated an outperform rating and issued a $410.00 price target on shares of Martin Marietta Materials in a research report on Friday, August 19th. Finally, Wolfe Research upgraded Martin Marietta Materials from a peer perform rating to an outperform rating and reduced their price target for the stock from $406.00 to $384.00 in a research report on Thursday, July 14th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $411.18.

Martin Marietta Materials Stock Down 0.4 %

MLM stock opened at $327.70 on Tuesday. Martin Marietta Materials has a fifty-two week low of $284.99 and a fifty-two week high of $446.46. The business’s 50-day moving average is $346.51 and its two-hundred day moving average is $345.98. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.53 and a current ratio of 3.63. The company has a market cap of $20.44 billion, a price-to-earnings ratio of 25.66, a P/E/G ratio of 1.65 and a beta of 0.87.

Martin Marietta Materials (NYSE:MLMGet Rating) last posted its earnings results on Thursday, July 28th. The construction company reported $3.96 earnings per share for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.13). Martin Marietta Materials had a net margin of 13.49% and a return on equity of 11.28%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the company posted $3.81 EPS. The firm’s revenue was up 19.1% compared to the same quarter last year. As a group, analysts forecast that Martin Marietta Materials will post 13.27 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 1st will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $2.64 annualized dividend and a dividend yield of 0.81%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.61. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 20.67%.

Institutional Trading of Martin Marietta Materials

Several institutional investors have recently made changes to their positions in the business. Charter Oak Capital Management LLC bought a new position in Martin Marietta Materials during the second quarter valued at approximately $29,000. CX Institutional bought a new position in Martin Marietta Materials during the second quarter valued at approximately $31,000. Private Trust Co. NA bought a new position in Martin Marietta Materials during the second quarter valued at approximately $37,000. Clear Street Markets LLC boosted its stake in Martin Marietta Materials by 407.7% during the second quarter. Clear Street Markets LLC now owns 132 shares of the construction company’s stock valued at $39,000 after buying an additional 106 shares during the last quarter. Finally, Tcwp LLC bought a new position in Martin Marietta Materials during the first quarter valued at approximately $41,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Martin Marietta Materials Company Profile

(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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