Stephens Reaffirms “Hold” Rating for Martin Marietta Materials (MLM)

Stephens restated their hold rating on shares of Martin Marietta Materials (NYSE:MLM) in a report released on Wednesday. They currently have a $250.00 target price on the construction company’s stock.

Several other brokerages have also recently issued reports on MLM. SunTrust Banks reaffirmed a buy rating and set a $228.00 price objective on shares of Martin Marietta Materials in a report on Friday, October 27th. DA Davidson reaffirmed a hold rating and set a $225.00 price objective on shares of Martin Marietta Materials in a report on Friday, November 3rd. Barclays assumed coverage on Martin Marietta Materials in a report on Tuesday, December 12th. They set an equal weight rating and a $227.00 price objective for the company. Citigroup reaffirmed a buy rating and set a $260.00 price objective (down from $270.00) on shares of Martin Marietta Materials in a report on Monday, October 9th. Finally, Jefferies Group reissued a buy rating and issued a $240.00 price target on shares of Martin Marietta Materials in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $240.50.

Martin Marietta Materials (NYSE MLM) opened at $227.33 on Wednesday. The stock has a market capitalization of $14,290.00, a price-to-earnings ratio of 33.14, a P/E/G ratio of 1.93 and a beta of 1.12. Martin Marietta Materials has a 1-year low of $191.09 and a 1-year high of $244.32. The company has a current ratio of 2.73, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, November 2nd. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($0.06). The firm had revenue of $1.02 million for the quarter, compared to analyst estimates of $1.07 billion. Martin Marietta Materials had a return on equity of 10.39% and a net margin of 11.03%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.49 earnings per share. analysts predict that Martin Marietta Materials will post 6.82 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 1st were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.77%. Martin Marietta Materials’s dividend payout ratio (DPR) is 25.66%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLM. Iridian Asset Management LLC CT raised its holdings in shares of Martin Marietta Materials by 54.6% in the third quarter. Iridian Asset Management LLC CT now owns 1,785,402 shares of the construction company’s stock worth $368,203,000 after acquiring an additional 630,357 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Martin Marietta Materials by 22.1% in the third quarter. JPMorgan Chase & Co. now owns 1,578,296 shares of the construction company’s stock worth $323,552,000 after acquiring an additional 285,376 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Martin Marietta Materials by 20.5% in the third quarter. Principal Financial Group Inc. now owns 1,660,752 shares of the construction company’s stock worth $342,497,000 after acquiring an additional 282,189 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Martin Marietta Materials by 18,467.9% in the third quarter. Neuberger Berman Group LLC now owns 269,606 shares of the construction company’s stock worth $55,601,000 after acquiring an additional 268,154 shares during the last quarter. Finally, CI Investments Inc. acquired a new position in shares of Martin Marietta Materials in the third quarter worth $54,546,000. 97.38% of the stock is owned by institutional investors.

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Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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