Martin Marietta Materials (NYSE:MLM) Price Target Raised to $681.00

Martin Marietta Materials (NYSE:MLM) had its target price raised by Stifel Nicolaus from $637.00 to $681.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

A number of other brokerages have also recently commented on MLM. Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Barclays raised their price objective on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Raymond James Financial lifted their price objective on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $525.00 target price (up from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Finally, Stephens reissued an “overweight” rating and issued a $700.00 price target on shares of Martin Marietta Materials in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $644.38.

Martin Marietta Materials Stock Down 2.1%

Martin Marietta Materials stock opened at $601.90 on Tuesday. The company has a market capitalization of $36.30 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 5.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. Martin Marietta Materials has a fifty-two week low of $441.95 and a fifty-two week high of $665.18. The firm has a 50 day moving average price of $621.55 and a 200 day moving average price of $586.06.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. Research analysts expect that Martin Marietta Materials will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be paid a $0.83 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s payout ratio is currently 17.50%.

Institutional Investors Weigh In On Martin Marietta Materials

Large investors have recently modified their holdings of the company. Quent Capital LLC acquired a new position in shares of Martin Marietta Materials during the third quarter worth $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Martin Marietta Materials during the 2nd quarter worth about $28,000. Zions Bancorporation National Association UT acquired a new position in shares of Martin Marietta Materials during the 1st quarter worth about $30,000. Redmont Wealth Advisors LLC purchased a new position in shares of Martin Marietta Materials in the 3rd quarter valued at about $32,000. Finally, NewSquare Capital LLC increased its holdings in shares of Martin Marietta Materials by 62.2% in the 2nd quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock valued at $33,000 after acquiring an additional 23 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

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.