Martin Marietta Materials, Inc. (NYSE:MLM) Receives $696.88 Average Target Price from Analysts

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have received a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $696.8750.

A number of research analysts recently weighed in on MLM shares. Truist Financial set a $710.00 price target on shares of Martin Marietta Materials in a research report on Thursday, February 12th. Morgan Stanley reduced their price objective on shares of Martin Marietta Materials from $706.00 to $702.00 and set an “overweight” rating for the company in a research report on Monday, March 9th. Stephens decreased their price objective on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Royal Bank Of Canada reissued a “sector perform” rating and set a $630.00 target price on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $785.00 target price on shares of Martin Marietta Materials in a research note on Thursday, February 26th.

Institutional Investors Weigh In On Martin Marietta Materials

Large investors have recently made changes to their positions in the business. Optima Capital LLC bought a new position in Martin Marietta Materials during the fourth quarter valued at about $25,000. Quent Capital LLC purchased a new position in Martin Marietta Materials in the third quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Martin Marietta Materials during the 3rd quarter worth approximately $27,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Martin Marietta Materials in the 2nd quarter worth approximately $28,000. Finally, Garton & Associates Financial Advisors LLC purchased a new position in Martin Marietta Materials in the fourth quarter valued at approximately $31,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Up 0.5%

NYSE MLM opened at $573.90 on Friday. The firm has a market capitalization of $34.61 billion, a P/E ratio of 30.53, a PEG ratio of 2.24 and a beta of 1.13. The business has a fifty day simple moving average of $638.32 and a 200 day simple moving average of $629.44. Martin Marietta Materials has a 12 month low of $441.95 and a 12 month high of $710.97. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.19). Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the business posted $4.79 earnings per share. Martin Marietta Materials’s revenue was up 9.3% on a year-over-year basis. On average, analysts predict that Martin Marietta Materials will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be given a $0.83 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s payout ratio is currently 17.66%.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.