Goldman Sachs Group upgraded shares of Martin Marietta Materials (NYSE:MLM) from a neutral rating to a buy rating in a research report sent to investors on Thursday, Benzinga reports. Goldman Sachs Group currently has $232.00 price target on the construction company’s stock, up from their previous price target of $207.00.

MLM has been the topic of several other research reports. Jefferies Financial Group restated a buy rating and issued a $232.00 target price on shares of Martin Marietta Materials in a report on Tuesday, January 29th. Zacks Investment Research cut shares of Martin Marietta Materials from a hold rating to a sell rating in a report on Friday, February 15th. Deutsche Bank initiated coverage on shares of Martin Marietta Materials in a report on Thursday, January 3rd. They issued a buy rating and a $198.00 target price on the stock. Stephens upgraded shares of Martin Marietta Materials from an equal rating to an overweight rating in a research note on Friday, February 15th. Finally, Stifel Nicolaus reiterated a buy rating on shares of Martin Marietta Materials in a research note on Wednesday, December 19th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Martin Marietta Materials presently has a consensus rating of Buy and a consensus price target of $217.36.

Shares of MLM stock opened at $212.16 on Thursday. Martin Marietta Materials has a 12-month low of $150.75 and a 12-month high of $232.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.89 and a current ratio of 1.74. The company has a market capitalization of $12.95 billion, a P/E ratio of 26.22, a P/E/G ratio of 1.80 and a beta of 1.12.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, February 12th. The construction company reported $1.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.21). Martin Marietta Materials had a return on equity of 10.31% and a net margin of 11.07%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the business posted $1.88 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that Martin Marietta Materials will post 8.97 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given a dividend of $0.48 per share. The ex-dividend date was Friday, March 1st. This represents a $1.92 annualized dividend and a dividend yield of 0.90%. Martin Marietta Materials’s payout ratio is 23.73%.

In other news, SVP Donald A. Mccunniff sold 660 shares of the firm’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $190.90, for a total transaction of $125,994.00. Following the sale, the senior vice president now directly owns 15,349 shares in the company, valued at approximately $2,930,124.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sue W. Cole sold 1,500 shares of Martin Marietta Materials stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $195.07, for a total transaction of $292,605.00. Following the completion of the sale, the director now owns 20,933 shares in the company, valued at $4,083,400.31. The disclosure for this sale can be found here. 0.75% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc increased its holdings in Martin Marietta Materials by 0.4% in the 3rd quarter. Vanguard Group Inc now owns 6,653,036 shares of the construction company’s stock valued at $1,210,520,000 after acquiring an additional 28,832 shares during the last quarter. BlackRock Inc. increased its holdings in Martin Marietta Materials by 0.9% in the 4th quarter. BlackRock Inc. now owns 3,945,492 shares of the construction company’s stock valued at $678,110,000 after acquiring an additional 34,666 shares during the last quarter. Morgan Stanley increased its holdings in Martin Marietta Materials by 5.0% in the 3rd quarter. Morgan Stanley now owns 3,665,846 shares of the construction company’s stock valued at $666,999,000 after acquiring an additional 173,731 shares during the last quarter. Select Equity Group L.P. increased its holdings in Martin Marietta Materials by 27.2% in the 3rd quarter. Select Equity Group L.P. now owns 2,463,993 shares of the construction company’s stock valued at $448,324,000 after acquiring an additional 526,139 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Martin Marietta Materials by 6.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,068,260 shares of the construction company’s stock valued at $194,369,000 after acquiring an additional 61,606 shares during the last quarter.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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.

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Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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