Martin Marietta Materials (NYSE:MLM) Coverage Initiated at Royal Bank Of Canada

Royal Bank Of Canada assumed coverage on shares of Martin Marietta Materials (NYSE:MLM) in a report released on Monday, Marketbeat Ratings reports. The brokerage issued a sector perform rating and a $515.00 price target on the construction company’s stock.

MLM has been the subject of a number of other research reports. Seaport Res Ptn raised Martin Marietta Materials to a “strong-buy” rating in a report on Friday, March 21st. Raymond James Financial reduced their price objective on Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating for the company in a research note on Tuesday, April 29th. Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, May 31st. Stifel Nicolaus upped their target price on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. downgraded shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $603.86.

Martin Marietta Materials Trading Down 0.5%

Shares of NYSE:MLM opened at $538.46 on Monday. The business’s 50 day moving average price is $533.79 and its 200-day moving average price is $521.70. Martin Marietta Materials has a 1 year low of $441.95 and a 1 year high of $633.23. The firm has a market capitalization of $32.46 billion, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 4.91 and a beta of 0.89. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 0.99.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a net margin of 16.07% and a return on equity of 12.01%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the business posted $1.93 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities research analysts forecast that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.59%. Martin Marietta Materials’s dividend payout ratio (DPR) is 18.20%.

Institutional Trading of Martin Marietta Materials

Institutional investors have recently made changes to their positions in the company. Checchi Capital Advisers LLC grew its holdings in shares of Martin Marietta Materials by 1.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock worth $690,000 after purchasing an additional 19 shares during the period. OneDigital Investment Advisors LLC raised its stake in shares of Martin Marietta Materials by 1.9% in the 4th quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company’s stock valued at $527,000 after acquiring an additional 19 shares during the period. Signaturefd LLC lifted its holdings in shares of Martin Marietta Materials by 2.6% in the 4th quarter. Signaturefd LLC now owns 835 shares of the construction company’s stock worth $431,000 after acquiring an additional 21 shares during the last quarter. Net Worth Advisory Group boosted its position in shares of Martin Marietta Materials by 2.2% during the 1st quarter. Net Worth Advisory Group now owns 993 shares of the construction company’s stock worth $475,000 after purchasing an additional 21 shares during the period. Finally, PDS Planning Inc increased its holdings in Martin Marietta Materials by 4.9% in the 1st quarter. PDS Planning Inc now owns 452 shares of the construction company’s stock valued at $216,000 after purchasing an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

About Martin Marietta Materials

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.