Martin Marietta Materials (NYSE:MLM) Hits New 52-Week Low – What’s Next?

Martin Marietta Materials, Inc. (NYSE:MLM) shares reached a new 52-week low on Tuesday . The company traded as low as $525.38 and last traded at $537.3740, with a volume of 147875 shares. The stock had previously closed at $555.78.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Weiss Ratings raised shares of Martin Marietta Materials from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Truist Financial lifted their price target on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Citigroup reduced their price target on shares of Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Loop Capital lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price target on the stock. in a research report on Wednesday, January 28th. Finally, Wells Fargo & Company lifted their price target on shares of Martin Marietta Materials from $608.00 to $614.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $689.81.

Martin Marietta Materials Price Performance

The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The company’s fifty day moving average is $595.04 and its two-hundred day moving average is $623.93. The stock has a market cap of $32.51 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 1.93 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the firm earned $1.90 EPS. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 19.32 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be paid a $0.83 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. Martin Marietta Materials’s payout ratio is 7.91%.

Hedge Funds Weigh In On Martin Marietta Materials

Institutional investors have recently modified their holdings of the business. Optima Capital LLC acquired a new position in shares of Martin Marietta Materials in the fourth quarter worth $25,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Martin Marietta Materials in the third quarter worth $27,000. Meeder Asset Management Inc. grew its stake in shares of Martin Marietta Materials by 67.9% in the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after acquiring an additional 19 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials in the third quarter worth $32,000. Finally, Garton & Associates Financial Advisors LLC acquired a new position in shares of Martin Marietta Materials in the fourth quarter worth $31,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.