Martin Marietta Materials (NYSE:MLM) Given New $630.00 Price Target at Raymond James

Martin Marietta Materials (NYSE:MLM - Free Report) had its price target trimmed by Raymond James from $640.00 to $630.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an outperform rating on the construction company's stock.

MLM has been the topic of a number of other research reports. Citigroup cut their price objective on Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. HSBC raised 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. Morgan Stanley reduced their target price on shares of Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Finally, Barclays boosted their price target on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an "overweight" rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Martin Marietta Materials has an average rating of "Moderate Buy" and an average price target of $648.71.

Martin Marietta Materials Trading Up 2.3 %

Shares of NYSE MLM traded up $12.10 during midday trading on Thursday, reaching $543.33. 371,416 shares of the stock were exchanged, compared to its average volume of 361,911. The stock has a market capitalization of $33.21 billion, a P/E ratio of 16.93, a PEG ratio of 2.97 and a beta of 0.91. 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 50 day simple moving average of $555.95 and a 200 day simple moving average of $550.86. Martin Marietta Materials has a twelve month low of $490.05 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts' consensus estimates of $6.41 by ($0.50). The company had revenue of $1.89 billion for the quarter, compared to analyst estimates 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 revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.94 earnings per share. As a group, equities analysts expect that Martin Marietta Materials will post 17.6 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a $0.79 dividend. The ex-dividend date was Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. Martin Marietta Materials's dividend payout ratio (DPR) is 9.85%.

Institutional Investors Weigh In On Martin Marietta Materials

Several hedge funds and other institutional investors have recently bought and sold shares of MLM. Newbridge Financial Services Group Inc. grew its stake in shares of Martin Marietta Materials by 411.1% in 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 lifted its stake 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 valued at $30,000 after purchasing 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 approximately $33,000. Retirement Wealth Solutions LLC acquired a new position in Martin Marietta Materials in the fourth quarter worth approximately $41,000. Finally, Larson Financial Group LLC bought a new position in shares of Martin Marietta Materials in the third quarter valued at $49,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Company Profile

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.