Martin Marietta Materials (NYSE:MLM) Shares Gap Down – Here’s What Happened

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) gapped down before the market opened on Monday . The stock had previously closed at $616.06, but opened at $582.07. Martin Marietta Materials shares last traded at $584.04, with a volume of 169,106 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MLM shares. Raymond James Financial set a $690.00 price objective on Martin Marietta Materials in a report on Monday, April 27th. Citigroup decreased their target price on Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Zacks Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Berenberg Bank set a $556.00 price target on shares of Martin Marietta Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. Finally, Oppenheimer began coverage on Martin Marietta Materials in a research report on Thursday, May 28th. They set a “market perform” rating for the company. Eleven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average price target of $681.94.

Martin Marietta Materials Trading Down 6.5%

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. The stock has a market capitalization of $34.57 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 2.61 and a beta of 1.10. The business’s 50-day moving average is $587.99 and its two-hundred day moving average is $618.17.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The business’s revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.90 earnings per share. As a group, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.41 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is 7.91%.

Institutional Trading of Martin Marietta Materials

A number of institutional investors have recently added to or reduced their stakes in MLM. Lido Advisors LLC increased its stake in Martin Marietta Materials by 0.8% in the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock valued at $1,209,000 after purchasing an additional 15 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its position in Martin Marietta Materials by 3.9% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock worth $264,000 after purchasing an additional 16 shares in the last quarter. Harbour Investments Inc. grew its holdings in Martin Marietta Materials by 31.4% in the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock valued at $42,000 after purchasing an additional 16 shares during the last quarter. AMG National Trust Bank grew its holdings in Martin Marietta Materials by 3.6% in the first quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock valued at $291,000 after purchasing an additional 17 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Martin Marietta Materials by 0.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock worth $1,361,000 after buying an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.