In yesterday’s Wall Street session, Martin Marietta Materials Inc. (NYSE:MLM) shares traded at $331.22, up 1.85% from the previous session.
As of this writing, 22 analysts cover Martin Marietta Materials Inc. (NYSE:MLM). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $480.00 and a low of $350.00, we find $420.00. Given the previous closing price of $325.21, this indicates a potential upside of 29.15 percent. MLM stock price is now -6.42% away from the 50-day moving average and -2.94% away from the 200-day moving average. The market capitalization of the company currently stands at $21.36B.
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There are 6 analysts who have given it a hold rating, whereas 12 have given it a buy rating. Brokers who have rated the stock have averaged $423.05 as their price target over the next twelve months.
On January 24, 2023, Atlantic Equities Downgraded its previous ‘Overweight’ rating to ‘Neutral’ on the stock reducing its target price from $375 to quote $350, while ‘Morgan Stanley’ rates the stock as ‘Equal-Weight’.
In other news, COLE SUE W, Director sold 1,685 shares of the company’s stock on Nov 18. The stock was sold for $599,196 at an average price of $355.61. Upon completion of the transaction, the Director now directly owns 21,155 shares in the company, valued at $7.01 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 10, SVP – CIO Mohr John P sold 0 shares of the business’s stock. A total of $144 was realized by selling the stock at an average price of $321.75. This leaves the insider owning 14,826 shares of the company worth $4.91 million. Insiders disposed of 32,658 shares of company stock worth roughly $10.82 million over the past 1 year. A total of 0.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MLM stock. A new stake in Martin Marietta Materials Inc. shares was purchased by MELVIN CAPITAL MANAGEMENT LP during the first quarter worth $235,357,000. SNOWHOOK CAPITAL MANAGEMENT LP invested $10,204,000 in shares of MLM during the first quarter. In the first quarter, RIVERMONT CAPITAL MANAGEMENT LP acquired a new stake in Martin Marietta Materials Inc. valued at approximately $7,288,000. LONGBOW FINANCE SA acquired a new stake in MLM for approximately $6,629,000. AMALGAMATED FINANCIAL CORP. purchased a new stake in MLM valued at around $5,188,000 in the second quarter. In total, there are 1,032 active investors with 96.90% ownership of the company’s stock.
Thursday morning saw Martin Marietta Materials Inc. (NYSE: MLM) opened at $323.62. During the past 12 months, Martin Marietta Materials Inc. has had a low of $284.99 and a high of $406.85. As of last week, the company has a debt-to-equity ratio of 0.70, a current ratio of 2.00, and a quick ratio of 1.40. The fifty day moving average price for MLM is $353.95 and a two-hundred day moving average price translates $341.24 for the stock.
The latest earnings results from Martin Marietta Materials Inc. (NYSE: MLM) was released for Sep, 2022. The net profit margin was 14.10% and return on equity was 12.70% for MLM. The company reported revenue of $1.48 billion for the quarter, compared to $1.5 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1.33 percent. For the current quarter, analysts expect MLM to generate $1.42B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/31/2023. Investors who held shares on 03/06/2023 were paid a $0.66 dividend. On an annualized basis, this represents a $2.64 dividend and a 0.80% percent yield. There was an ex-dividend date of 03/03/2023 for this dividend. In terms of dividend payout ratio, MLM is presently at 18.30%.
Martin Marietta Materials Inc.(MLM) Company Profile
Martin Marietta Materials, Inc., a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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. The company also produces magnesia-based chemicals products that are used in industrial, agricultural, and environmental applications; and dolomitic lime primarily to customers for steel production and soil stabilization. Its chemical products are used in flame retardants, wastewater treatment, pulp and paper production, and other environmental applications. The company was founded in 1939 and is headquartered in Raleigh, North Carolina.
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