Martin Marietta Materials (NYSE:MLM) Earns Reduce Rating from Analysts at HSBC

HSBC started coverage on shares of Martin Marietta Materials (NYSE:MLM) in a research note published on Friday morning, Marketbeat reports. The brokerage issued a reduce rating and a $376.00 price target on the construction company’s stock.

MLM has been the topic of several other reports. Citigroup upped their price target on shares of Martin Marietta Materials from $460.00 to $527.00 and gave the company a buy rating in a research note on Friday, July 14th. Truist Financial increased their price objective on shares of Martin Marietta Materials from $446.00 to $550.00 and gave the stock a buy rating in a research note on Friday, July 28th. Stephens increased their price objective on shares of Martin Marietta Materials from $475.00 to $525.00 in a research note on Wednesday, July 26th. Raymond James increased their price objective on shares of Martin Marietta Materials from $416.00 to $484.00 in a research note on Friday, July 28th. Finally, StockNews.com initiated coverage on shares of Martin Marietta Materials in a research note on Thursday, August 17th. They set a hold rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $465.07.

Martin Marietta Materials Trading Up 0.7 %

MLM stock opened at $428.04 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.55 and a current ratio of 2.21. The company’s 50-day simple moving average is $447.47 and its 200 day simple moving average is $407.51. Martin Marietta Materials has a 52 week low of $298.32 and a 52 week high of $463.41. The company has a market capitalization of $26.53 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 1.30 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, July 27th. The construction company reported $5.60 EPS for the quarter, beating the consensus estimate of $4.83 by $0.77. Martin Marietta Materials had a net margin of 14.68% and a return on equity of 13.42%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the company posted $3.96 earnings per share. Martin Marietta Materials’s revenue was up 10.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Martin Marietta Materials will post 17.56 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, August 31st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.66. Martin Marietta Materials’s dividend payout ratio (DPR) is 19.42%.

Insider Activity at Martin Marietta Materials

In related news, VP Craig M. Latorre sold 1,934 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $431.68, for a total value of $834,869.12. Following the completion of the transaction, the vice president now owns 9,731 shares in the company, valued at approximately $4,200,678.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Craig M. Latorre sold 1,934 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $431.68, for a total value of $834,869.12. Following the completion of the transaction, the vice president now owns 9,731 shares in the company, valued at approximately $4,200,678.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Craig M. Latorre sold 500 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $447.09, for a total transaction of $223,545.00. Following the completion of the transaction, the vice president now owns 11,665 shares of the company’s stock, valued at approximately $5,215,304.85. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Martin Marietta Materials by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 6,850,912 shares of the construction company’s stock worth $2,636,848,000 after purchasing an additional 105,535 shares during the last quarter. State Street Corp raised its holdings in Martin Marietta Materials by 2.3% during the 2nd quarter. State Street Corp now owns 2,569,976 shares of the construction company’s stock worth $1,186,532,000 after purchasing an additional 58,864 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Martin Marietta Materials by 107.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,262,083 shares of the construction company’s stock worth $764,516,000 after purchasing an additional 1,170,464 shares during the last quarter. Amundi raised its holdings in Martin Marietta Materials by 25.0% during the 4th quarter. Amundi now owns 1,436,140 shares of the construction company’s stock worth $509,753,000 after purchasing an additional 287,139 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Martin Marietta Materials by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,311,439 shares of the construction company’s stock worth $603,883,000 after purchasing an additional 24,502 shares during the last quarter. Institutional investors own 93.22% of the company’s stock.

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.