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

Martin Marietta Materials, Inc. (NYSE:MLM) has earned a consensus rating of “Moderate Buy” from the nineteen analysts that are covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $670.00.

A number of equities research analysts recently weighed in on MLM shares. Truist Financial raised their target price on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Wells Fargo & Company lowered their price objective on shares of Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating on the stock in a research report on Friday, July 31st. Wall Street Zen lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Tuesday, July 28th. Berenberg Bank set a $556.00 target price on Martin Marietta Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Finally, Citigroup lowered their price target on Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating on the stock in a research report on Monday.

Institutional Trading of Martin Marietta Materials

A number of hedge funds have recently bought and sold shares of the company. Optima Capital LLC bought a new stake in Martin Marietta Materials in the fourth quarter worth $25,000. Meeder Asset Management Inc. increased its holdings in shares of Martin Marietta Materials by 67.9% in the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after buying an additional 19 shares during the period. CoreCap Advisors LLC increased its holdings in shares of Martin Marietta Materials by 370.0% in the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock worth $27,000 after buying an additional 37 shares during the period. Garton & Associates Financial Advisors LLC bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at about $31,000. Finally, Reflection Asset Management bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at about $35,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $538.51 on Friday. The stock has a market cap of $32.35 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 2.37 and a beta of 1.11. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The business has a 50-day simple moving average of $576.59 and a 200 day simple moving average of $603.97. Martin Marietta Materials has a 52 week low of $523.48 and a 52 week high of $710.97.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, beating the consensus estimate of $4.76 by $0.24. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the firm posted $5.43 EPS. The company’s revenue was up 21.0% compared to the same quarter last year. On average, research analysts forecast that Martin Marietta Materials will post 19.25 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st were given a dividend of $0.83 per share. The ex-dividend date was Monday, June 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is 8.16%.

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.