Martin Marietta Materials (NYSE:MLM) Price Target Lowered to $622.00 at Morgan Stanley

Martin Marietta Materials (NYSE:MLM) had its price objective lowered by Morgan Stanley from $657.00 to $622.00 in a report published on Tuesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the construction company’s stock.

Other equities research analysts have also issued research reports about the company. UBS Group assumed coverage on Martin Marietta Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $730.00 price target on the stock. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. Jefferies Financial Group cut their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective for the company in a research report on Wednesday, December 11th. Finally, Loop Capital boosted their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $653.08.

Martin Marietta Materials Stock Down 0.5 %

Shares of NYSE:MLM opened at $544.78 on Tuesday. The company has a 50 day moving average price of $579.74 and a two-hundred day moving average price of $555.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The company has a market capitalization of $33.30 billion, a PE ratio of 16.98, a PEG ratio of 3.80 and a beta of 0.89. Martin Marietta Materials has a 52 week low of $479.67 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Martin Marietta Materials’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.94 EPS. Analysts forecast that Martin Marietta Materials will post 17.58 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s payout ratio is 9.85%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MLM. Newbridge Financial Services Group Inc. increased its position in shares of Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after purchasing an additional 37 shares during the last quarter. Asset Dedication LLC increased its holdings in Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares during the last quarter. First Personal Financial Services bought a new stake in Martin Marietta Materials during the third quarter worth $33,000. Rothschild Investment LLC acquired a new stake in Martin Marietta Materials in the second quarter valued at $43,000. Finally, Larson Financial Group LLC bought a new position in shares of Martin Marietta Materials in the 3rd quarter valued at about $49,000. 95.04% of the stock is 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.