Martin Marietta Materials, Inc. (NYSE:MLM) Receives $599.69 Consensus PT from Brokerages

Martin Marietta Materials, Inc. (NYSE:MLM) has been assigned an average rating of “Moderate Buy” from the sixteen research firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $599.69.

Several analysts have recently weighed in on MLM shares. Barclays decreased their price objective on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus lifted their price objective on Martin Marietta Materials from $559.00 to $609.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th. Raymond James decreased their price objective on Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating on the stock in a report on Tuesday, April 29th. Finally, Truist Financial decreased their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a report on Thursday, February 13th.

Insider Buying and Selling

In other Martin Marietta Materials news, SVP Michael J. Petro acquired 550 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $454.37 per share, with a total value of $249,903.50. Following the acquisition, the senior vice president now owns 8,985 shares in the company, valued at approximately $4,082,514.45. This represents a 6.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following the sale, the executive vice president now owns 3,523 shares in the company, valued at approximately $1,673,425. The trade was a 27.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.69% of the stock is owned by corporate insiders.

Institutional Trading of Martin Marietta Materials

Institutional investors and hedge funds have recently modified their holdings of the business. Lee Danner & Bass Inc. bought a new position in shares of Martin Marietta Materials during the 4th quarter valued at about $28,000. Wayfinding Financial LLC bought a new position in Martin Marietta Materials during the first quarter valued at approximately $29,000. Whipplewood Advisors LLC bought a new position in Martin Marietta Materials during the fourth quarter valued at approximately $32,000. Chilton Capital Management LLC purchased a new position in shares of Martin Marietta Materials during the first quarter worth approximately $30,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Martin Marietta Materials in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 0.0%

Shares of NYSE MLM opened at $541.61 on Wednesday. Martin Marietta Materials has a one year low of $441.95 and a one year high of $633.23. The firm has a market capitalization of $32.65 billion, a PE ratio of 16.75, a PEG ratio of 4.45 and a beta of 0.89. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $491.51 and a two-hundred day moving average price of $528.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the business earned $1.93 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, analysts predict that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.58%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 18.20%.

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.