The Martin Marietta Materials Inc. (MLM) gets “Neutral” status at Goldman Sachs Group Inc.

The Martin Marietta Materials Inc. (MLM) gets “Neutral” status at Goldman Sachs Group Inc.

Goldman Sachs Group Inc. cut shares of Martin Marietta Materials Inc. (NYSE:MLM) from a buy rating to a neutral rating in a research report released on Tuesday morning. Goldman Sachs Group Inc. currently has $202.00 price target on the stock, down from their previous price target of $210.00.

MLM has been the topic of a number of other research reports. Zacks Investment Research downgraded Martin Marietta Materials from a buy rating to a hold rating in a research report on Tuesday, July 5th. Jefferies Group reaffirmed a hold rating on shares of Martin Marietta Materials in a research report on Monday, August 1st. DA Davidson reaffirmed a hold rating and issued a $210.00 target price on shares of Martin Marietta Materials in a research report on Sunday. Finally, Bank of America Corp. reaffirmed a buy rating on shares of Martin Marietta Materials in a research report on Friday, June 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $203.00.

Shares of Martin Marietta Materials (NYSE:MLM) traded up 0.02% during mid-day trading on Tuesday, hitting $169.22. The company’s stock had a trading volume of 239,768 shares. Martin Marietta Materials has a 1-year low of $108.31 and a 1-year high of $206.36. The company has a market cap of $10.73 billion, a price-to-earnings ratio of 30.15 and a beta of 1.36. The company has a 50-day moving average of $180.77 and a 200 day moving average of $183.50.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.02 by $0.12. Martin Marietta Materials had a net margin of 9.96% and a return on equity of 9.36%. The firm earned $915.40 million during the quarter, compared to analyst estimates of $953.30 million. During the same period in the prior year, the business earned $1.22 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts expect that Martin Marietta Materials will post $7.14 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 1st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Tuesday, August 30th. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.40. Martin Marietta Materials’s payout ratio is 30.05%.

In other news, EVP Roselyn R. Bar sold 5,830 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $199.98, for a total transaction of $1,165,883.40. Following the completion of the sale, the executive vice president now owns 42,588 shares in the company, valued at $8,516,748.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David G. Maffucci sold 6,779 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $199.90, for a total value of $1,355,122.10. Following the sale, the director now owns 20,326 shares of the company’s stock, valued at approximately $4,063,167.40. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.

Large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Martin Marietta Materials by 1.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 530 shares of the company’s stock worth $101,000 after buying an additional 5 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Martin Marietta Materials by 5.9% in the second quarter. Checchi Capital Advisers LLC now owns 686 shares of the company’s stock worth $132,000 after buying an additional 38 shares in the last quarter. BlueMountain Capital Management LLC boosted its stake in shares of Martin Marietta Materials by 1,196.3% in the second quarter. BlueMountain Capital Management LLC now owns 700 shares of the company’s stock worth $134,000 after buying an additional 646 shares in the last quarter. Bessemer Group Inc. purchased a new stake in shares of Martin Marietta Materials during the second quarter worth about $134,000. Finally, Carroll Financial Associates Inc. boosted its stake in shares of Martin Marietta Materials by 1.4% in the third quarter. Carroll Financial Associates Inc. now owns 750 shares of the company’s stock worth $134,000 after buying an additional 10 shares in the last quarter. Institutional investors own 97.18% of the company’s stock.

About Martin Marietta Materials

Related posts

Leave a Comment