Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have received a consensus rating of “Buy” from the eighteen brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $249.52.
Several analysts have recently commented on the stock. ValuEngine downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Exane BNP Paribas assumed coverage on shares of Martin Marietta Materials in a report on Wednesday, October 9th. They issued an “underperform” rating on the stock. BNP Paribas assumed coverage on shares of Martin Marietta Materials in a report on Wednesday, October 9th. They issued an “underperform” rating on the stock. Longbow Research set a $265.00 price objective on shares of Martin Marietta Materials and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Bank of America raised shares of Martin Marietta Materials from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 15th.
NYSE:MLM traded up $4.58 during trading hours on Monday, hitting $270.36. 82,503 shares of the company were exchanged, compared to its average volume of 507,427. The stock has a market capitalization of $16.67 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 2.66 and a beta of 1.11. Martin Marietta Materials has a 52-week low of $150.75 and a 52-week high of $275.99. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.86 and a quick ratio of 1.08. The company’s 50 day moving average price is $263.66 and its 200-day moving average price is $234.83.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.55 per share. The ex-dividend date was Friday, August 30th. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.48. This represents a $2.20 dividend on an annualized basis and a yield of 0.81%. Martin Marietta Materials’s dividend payout ratio is currently 27.19%.
In other news, EVP Roselyn R. Bar sold 2,821 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $246.93, for a total value of $696,589.53. Following the completion of the sale, the executive vice president now directly owns 57,149 shares in the company, valued at $14,111,802.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman C Howard Nye sold 11,224 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $243.66, for a total transaction of $2,734,839.84. Following the completion of the sale, the chairman now owns 158,885 shares of the company’s stock, valued at $38,713,919.10. The disclosure for this sale can be found here. Insiders have sold 21,485 shares of company stock valued at $5,317,618 over the last 90 days. 0.73% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of MLM. Destination Wealth Management grew its holdings in shares of Martin Marietta Materials by 825.0% in the second quarter. Destination Wealth Management now owns 111 shares of the construction company’s stock valued at $26,000 after purchasing an additional 99 shares during the period. Rational Advisors LLC boosted its stake in Martin Marietta Materials by 2,160.0% during the second quarter. Rational Advisors LLC now owns 113 shares of the construction company’s stock worth $26,000 after buying an additional 108 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in Martin Marietta Materials during the second quarter worth about $31,000. Capital Investment Advisory Services LLC boosted its stake in Martin Marietta Materials by 153.3% during the second quarter. Capital Investment Advisory Services LLC now owns 152 shares of the construction company’s stock worth $34,000 after buying an additional 92 shares during the period. Finally, Commonwealth Bank of Australia boosted its stake in Martin Marietta Materials by 28.1% during the second quarter. Commonwealth Bank of Australia now owns 196 shares of the construction company’s stock worth $43,000 after buying an additional 43 shares during the period.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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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