Martin Marietta Materials, Inc. (NYSE:MLM) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have received an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $588.69.

MLM has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Citigroup raised their price target on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a research note on Friday, April 5th. HSBC upgraded shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and raised their price target for the company from $376.00 to $543.00 in a research note on Thursday, February 22nd. Truist Financial lifted their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Finally, Wolfe Research downgraded shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th.

Martin Marietta Materials Trading Up 1.4 %

Shares of Martin Marietta Materials stock opened at $605.17 on Friday. The company has a market capitalization of $37.35 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 2.87 and a beta of 0.96. The company has a quick ratio of 2.50, a current ratio of 3.35 and a debt-to-equity ratio of 0.49. Martin Marietta Materials has a 12-month low of $345.03 and a 12-month high of $626.67. The firm’s 50-day moving average price is $593.37 and its two-hundred day moving average price is $515.98.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.67. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the company posted $3.04 EPS. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, analysts forecast that Martin Marietta Materials will post 21.24 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were issued a dividend of $0.74 per share. The ex-dividend date was Friday, March 1st. This represents a $2.96 annualized dividend and a yield of 0.49%. Martin Marietta Materials’s payout ratio is 15.72%.

Insiders Place Their Bets

In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the completion of the transaction, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Roselyn R. Bar sold 10,000 shares of Martin Marietta Materials stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total value of $6,032,900.00. Following the completion of the sale, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the sale, the director now owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,724 shares of company stock worth $16,033,760. 0.61% of the stock is currently owned by insiders.

Institutional Trading of Martin Marietta Materials

Several hedge funds have recently modified their holdings of the stock. Pavion Blue Capital LLC bought a new stake in shares of Martin Marietta Materials in the 1st quarter valued at $205,000. YHB Investment Advisors Inc. bought a new stake in shares of Martin Marietta Materials in the 1st quarter valued at $193,000. Summit Financial LLC bought a new stake in shares of Martin Marietta Materials in the 1st quarter valued at $222,000. Cambridge Investment Research Advisors Inc. increased its stake in Martin Marietta Materials by 11.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,547 shares of the construction company’s stock valued at $5,861,000 after purchasing an additional 985 shares in the last quarter. Finally, Zullo Investment Group Inc. bought a new stake in Martin Marietta Materials during the 1st quarter valued at $217,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials 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.