Martin Marietta Materials (NYSE:MLM) Stock Rating Upgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials (NYSE:MLM) from a neutral rating to an overweight rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $640.00 target price on the construction company’s stock, up from their previous target price of $515.00.

Several other analysts also recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Stephens reduced their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Barclays raised their price objective on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Citigroup reduced their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Truist Financial lowered their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $644.46.

Martin Marietta Materials Trading Up 0.7 %

Shares of MLM stock opened at $600.00 on Wednesday. Martin Marietta Materials has a fifty-two week low of $456.83 and a fifty-two week high of $633.23. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The stock has a 50-day simple moving average of $571.19 and a 200 day simple moving average of $556.23. The stock has a market capitalization of $36.67 billion, a P/E ratio of 18.70, a P/E/G ratio of 4.04 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The company had revenue of $1.89 billion during 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 was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.94 earnings per share. On average, sell-side analysts expect that Martin Marietta Materials will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.53%. Martin Marietta Materials’s payout ratio is currently 9.85%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Ameritas Advisory Services LLC grew its holdings in Martin Marietta Materials by 2.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock valued at $360,000 after buying an additional 18 shares during the last quarter. Inspire Investing LLC boosted its position in shares of Martin Marietta Materials by 0.9% in the third quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock valued at $1,144,000 after acquiring an additional 19 shares during the period. Integrated Wealth Concepts LLC grew its stake in shares of Martin Marietta Materials by 2.5% in the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock worth $421,000 after acquiring an additional 19 shares during the last quarter. Mather Group LLC. increased its position in Martin Marietta Materials by 13.6% during the second quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock worth $90,000 after acquiring an additional 20 shares during the period. Finally, TFG Advisers LLC raised its stake in Martin Marietta Materials by 3.7% during the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.