Martin Marietta Materials (MLM) Hits New 52-Week Low at $167.63
Martin Marietta Materials, Inc. (NYSE:MLM) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $167.63 and last traded at $170.19, with a volume of 11654 shares. The stock had previously closed at $168.59.
Several brokerages have commented on MLM. Citigroup lowered their target price on Martin Marietta Materials from $262.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, July 30th. Stephens reissued a “hold” rating and set a $233.00 target price on shares of Martin Marietta Materials in a research note on Wednesday, August 1st. ValuEngine downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th. Stifel Nicolaus boosted their target price on Martin Marietta Materials from $256.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. Finally, DA Davidson set a $200.00 target price on Martin Marietta Materials and gave the stock a “hold” rating in a research note on Thursday, October 11th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $236.13.
The company has a debt-to-equity ratio of 0.60, a current ratio of 2.05 and a quick ratio of 1.14. The company has a market cap of $11.47 billion, a PE ratio of 23.58, a P/E/G ratio of 1.37 and a beta of 1.08.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Tuesday, September 4th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, August 31st. This represents a $1.92 annualized dividend and a dividend yield of 1.12%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.44. Martin Marietta Materials’s dividend payout ratio is currently 26.74%.
In other news, Director John J. Koraleski acquired 2,400 shares of the stock in a transaction dated Friday, July 27th. The stock was bought at an average price of $208.06 per share, with a total value of $499,344.00. Following the completion of the purchase, the director now directly owns 4,750 shares of the company’s stock, valued at approximately $988,285. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Donald A. Mccunniff sold 2,250 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $204.33, for a total value of $459,742.50. Following the completion of the transaction, the senior vice president now directly owns 12,649 shares of the company’s stock, valued at approximately $2,584,570.17. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC acquired a new stake in Martin Marietta Materials during the 2nd quarter valued at approximately $128,000. Piedmont Investment Advisors LLC acquired a new stake in Martin Marietta Materials during the 2nd quarter valued at approximately $160,000. Putnam Investments LLC acquired a new stake in Martin Marietta Materials during the 2nd quarter valued at approximately $203,000. Sawtooth Solutions LLC acquired a new stake in Martin Marietta Materials during the 2nd quarter valued at approximately $205,000. Finally, Visionary Asset Management Inc. acquired a new stake in Martin Marietta Materials during the 2nd quarter valued at approximately $217,000.
Martin Marietta Materials Company Profile (NYSE:MLM)
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 provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; 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.
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