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

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

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

Martin Marietta Materials Trading Down 0.2 %

NYSE:MLM opened at $554.52 on Thursday. Martin Marietta Materials has a one year low of $389.90 and a one year high of $626.67. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. The firm has a market cap 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. The firm has a 50-day simple moving average of $563.23 and a 200-day simple moving average of $560.36.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating 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 business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the business posted $2.16 EPS. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. Equities analysts anticipate that Martin Marietta Materials will post 23.03 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

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 dividend of $0.74 per share. This represents a $2.96 annualized dividend 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

Several institutional investors and hedge funds have recently bought and sold shares of MLM. Public Sector Pension Investment Board lifted its stake in Martin Marietta Materials by 11.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 6,620 shares of the construction company’s stock valued at $2,717,000 after acquiring an additional 672 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in Martin Marietta Materials by 6.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 6,297 shares of the construction company’s stock valued at $2,585,000 after acquiring an additional 364 shares during the period. Hudson Bay Capital Management LP acquired a new stake in Martin Marietta Materials during the 3rd quarter valued at approximately $3,284,000. Anchor Investment Management LLC acquired a new stake in Martin Marietta Materials during the 4th quarter valued at approximately $215,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Martin Marietta Materials by 2.7% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,179 shares of the construction company’s stock valued at $588,000 after acquiring an additional 31 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

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.