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

Shares of Martin Marietta Materials, Inc. (NYSE:MLMGet Free Report) have earned an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $610.27.

MLM has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price target on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a report on Monday, April 15th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. StockNews.com downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Raymond James lifted their price objective on Martin Marietta Materials from $505.00 to $555.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Truist Financial increased their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd.

Read Our Latest Report on MLM

Insider Buying and Selling

In related news, CEO C Howard Nye sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the completion of the transaction, the chief executive officer now owns 134,640 shares in the company, valued at approximately $81,357,566.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $6,032,900.00. Following the sale, the executive vice president now owns 59,970 shares in the company, valued at $36,179,301.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO C Howard Nye sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the transaction, the chief executive officer now owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

Institutional Trading of Martin Marietta Materials

Several large investors have recently added to or reduced their stakes in MLM. Vanguard Group Inc. boosted its holdings in shares of Martin Marietta Materials by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after acquiring an additional 69,701 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Martin Marietta Materials by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company’s stock valued at $838,421,000 after purchasing an additional 181,136 shares in the last quarter. FMR LLC increased its position in shares of Martin Marietta Materials by 225.3% during the 3rd quarter. FMR LLC now owns 1,833,959 shares of the construction company’s stock valued at $752,803,000 after purchasing an additional 1,270,116 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Martin Marietta Materials by 114.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after buying an additional 523,038 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at $308,705,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $580.80 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. Martin Marietta Materials has a 1-year low of $389.90 and a 1-year high of $626.67. The company has a market capitalization of $35.80 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 2.75 and a beta of 0.95. The business has a 50-day moving average of $600.82 and a 200-day moving average of $537.24.

Martin Marietta Materials (NYSE:MLMGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.88 by $0.05. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the company posted $2.16 EPS. Martin Marietta Materials’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, equities analysts anticipate that Martin Marietta Materials will post 21.75 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.77%.

Martin Marietta Materials Company Profile

(Get Free Report

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.

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Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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