Martin Marietta Materials (NYSE:MLM) Sets New 1-Year Low – Should You Sell?

Martin Marietta Materials, Inc. (NYSE:MLM)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $502.36 and last traded at $503.20, with a volume of 912665 shares changing hands. The stock had previously closed at $511.98.

Wall Street Analyst Weigh In

MLM has been the topic of several research analyst reports. Weiss Ratings downgraded shares of Martin Marietta Materials from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 3rd. Stephens lowered their price objective on shares of Martin Marietta Materials from $700.00 to $680.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Sanford C. Bernstein lowered shares of Martin Marietta Materials to an “underweight” rating in a report on Wednesday, September 2nd. Citigroup cut their target price on Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada raised their target price on Martin Marietta Materials from $610.00 to $620.00 and gave the stock a “sector perform” rating in a research note on Friday, August 28th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $667.53.

Martin Marietta Materials Stock Up 1.3%

The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. The business’s 50-day simple moving average is $546.65 and its 200-day simple moving average is $580.07. The company has a market capitalization of $30.57 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 2.17 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, topping analysts’ consensus estimates of $4.76 by $0.24. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the business earned $5.43 earnings per share. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.07 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.36 annualized dividend and a yield of 0.7%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. Martin Marietta Materials’s payout ratio is 8.26%.

Hedge Funds Weigh In On Martin Marietta Materials

Several institutional investors and hedge funds have recently modified their holdings of the stock. CoreCap Advisors LLC raised its position in Martin Marietta Materials by 370.0% during the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock valued at $27,000 after acquiring an additional 37 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of Martin Marietta Materials by 67.9% during the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after purchasing an additional 19 shares during the period. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth approximately $31,000. Reflection Asset Management purchased a new position in shares of Martin Marietta Materials during the 4th quarter valued at approximately $35,000. Finally, Osterweis Capital Management Inc. purchased a new position in shares of Martin Marietta Materials during the 2nd quarter valued at approximately $37,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a U.S.-based supplier of construction aggregates and other building materials. The company produces crushed stone, sand and gravel used in infrastructure, commercial, residential and industrial construction projects.

Its products and services also include cement, ready-mixed concrete, asphalt and paving materials. Martin Marietta serves customers involved in roads, bridges, airports, buildings and other essential infrastructure, with operations concentrated across several regions of the United States.

The company was established in 1993 as an independent, publicly traded materials business formed from the construction materials operations of Martin Marietta Corporation.