Martin Marietta Materials (NYSE:MLM) Price Target Cut to $597.00 by Analysts at Raymond James

Martin Marietta Materials (NYSE:MLM) had its price target cut by Raymond James from $600.00 to $597.00 in a research report report published on Tuesday,Benzinga reports. They currently have an outperform rating on the construction company’s stock.

A number of other equities analysts have also weighed in on MLM. Stephens cut their target price on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Citigroup decreased their target price on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. cut shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $640.00 to $560.00 in a research report on Wednesday, March 19th. Barclays dropped their target price on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Finally, Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price target for the company in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus target price of $599.38.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $503.43 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The stock’s fifty day simple moving average is $483.04 and its two-hundred day simple moving average is $531.06. Martin Marietta Materials has a 1-year low of $441.95 and a 1-year high of $633.23. The stock has a market cap of $30.51 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. As a group, analysts forecast that Martin Marietta Materials will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.79 per share. The ex-dividend date was Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.63%. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.77%.

Insiders Place Their Bets

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares in the company, valued at approximately $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael J. Petro acquired 550 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the transaction, the senior vice president now directly owns 8,985 shares in the company, valued at $4,082,514.45. This represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. 0.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Martin Marietta Materials

Several large investors have recently bought and sold shares of the business. Lee Danner & Bass Inc. purchased a new stake in Martin Marietta Materials in the fourth quarter worth approximately $28,000. Wayfinding Financial LLC purchased a new stake in Martin Marietta Materials in the first quarter worth about $29,000. Chilton Capital Management LLC bought a new stake in Martin Marietta Materials during the 1st quarter worth approximately $30,000. Whipplewood Advisors LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter valued at $32,000. Finally, Kestra Investment Management LLC bought a new stake in Martin Marietta Materials during the fourth quarter valued at about $35,000. 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.