Martin Marietta Materials, Inc. (NYSE:MLM) Receives $622.63 Consensus PT from Analysts

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have received a consensus rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $622.6250.

MLM has been the subject of a number of research reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $525.00 price objective (up from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Raymond James Financial increased their price objective on Martin Marietta Materials from $600.00 to $645.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Bank of America raised their price target on Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Stifel Nicolaus raised their price target on Martin Marietta Materials from $609.00 to $637.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Finally, Morgan Stanley raised their price target on Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a research note on Monday, July 28th.

Insiders Place Their Bets

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $613.32, for a total value of $636,626.16. Following the completion of the transaction, the director directly owned 15,417 shares in the company, valued at $9,455,554.44. This trade represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Baird Financial Group Inc. lifted its position in shares of Martin Marietta Materials by 56.4% in the fourth quarter. Baird Financial Group Inc. now owns 4,978 shares of the construction company’s stock valued at $2,571,000 after buying an additional 1,796 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Martin Marietta Materials by 10.0% in the fourth quarter. Cetera Investment Advisers now owns 9,282 shares of the construction company’s stock valued at $4,794,000 after buying an additional 847 shares during the last quarter. Ensign Peak Advisors Inc lifted its position in shares of Martin Marietta Materials by 5.4% in the fourth quarter. Ensign Peak Advisors Inc now owns 22,245 shares of the construction company’s stock valued at $11,490,000 after buying an additional 1,145 shares during the last quarter. Focus Partners Wealth lifted its position in shares of Martin Marietta Materials by 9.3% in the fourth quarter. Focus Partners Wealth now owns 4,042 shares of the construction company’s stock valued at $2,088,000 after buying an additional 345 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Martin Marietta Materials by 375.7% in the fourth quarter. Lazard Asset Management LLC now owns 9,813 shares of the construction company’s stock valued at $5,068,000 after buying an additional 7,750 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Down 2.3%

NYSE:MLM opened at $616.61 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. The company has a market cap of $37.19 billion, a PE ratio of 34.20, a PEG ratio of 5.72 and a beta of 0.94. Martin Marietta Materials has a 52-week low of $441.95 and a 52-week high of $633.23. The stock has a 50-day simple moving average of $594.11 and a 200 day simple moving average of $543.25.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.01). The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Martin Marietta Materials will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be paid a $0.83 dividend. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, September 2nd. Martin Marietta Materials’s dividend payout ratio is 18.41%.

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.