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Morgan Stanley Issues Pessimistic Forecast for Martin Marietta Materials (NYSE:MLM) Stock Price

Martin Marietta Materials logo with Construction background

Martin Marietta Materials (NYSE:MLM - Free Report) had its price target lowered by Morgan Stanley from $657.00 to $622.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the construction company's stock.

Several other research firms have also recently weighed in on MLM. Loop Capital raised 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. HSBC upgraded shares of Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 price objective on the stock in a report on Wednesday, December 11th. StockNews.com upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Monday, December 2nd. JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $515.00 to $640.00 in a research report on Wednesday, November 27th. Finally, Barclays upped their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $653.08.

Check Out Our Latest Stock Analysis on MLM

Martin Marietta Materials Trading Down 0.5 %

Shares of NYSE MLM traded down $2.52 during mid-day trading on Tuesday, hitting $544.78. 497,214 shares of the company traded hands, compared to its average volume of 443,624. The business has a 50 day moving average of $579.74 and a two-hundred day moving average of $555.47. The stock has a market capitalization of $33.30 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 3.80 and a beta of 0.89. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials has a 1 year low of $479.67 and a 1 year 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 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $6.94 EPS. On average, sell-side analysts anticipate that Martin Marietta Materials will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MLM. Franklin Resources Inc. increased its position in shares of Martin Marietta Materials by 1.9% during the third quarter. Franklin Resources Inc. now owns 534,801 shares of the construction company's stock worth $295,397,000 after purchasing an additional 9,908 shares in the last quarter. Synovus Financial Corp boosted its holdings in Martin Marietta Materials by 8.0% in the 3rd quarter. Synovus Financial Corp now owns 10,021 shares of the construction company's stock valued at $5,394,000 after purchasing an additional 741 shares in the last quarter. Tidal Investments LLC boosted its holdings in Martin Marietta Materials by 89.3% in the 3rd quarter. Tidal Investments LLC now owns 8,008 shares of the construction company's stock valued at $4,310,000 after purchasing an additional 3,778 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Martin Marietta Materials during the 3rd quarter worth approximately $197,000. Finally, Sanctuary Advisors LLC boosted its stake in shares of Martin Marietta Materials by 18.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company's stock worth $4,914,000 after acquiring an additional 1,286 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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