Martin Marietta Materials, Inc. (NYSE:MLM) Receives $634.85 Consensus Price Target from Brokerages

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $634.85.

Several research firms recently commented on MLM. JPMorgan Chase & Co. decreased their price target on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Loop Capital increased their price target on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Stephens cut their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, Jefferies Financial Group dropped their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $583.03 on Wednesday. The stock has a market capitalization of $35.63 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 4.04 and a beta of 0.90. Martin Marietta Materials has a 52 week low of $451.37 and a 52 week high of $633.23. The stock has a 50 day moving average price of $555.96 and a 200 day moving average price of $557.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.94 EPS. Analysts predict that Martin Marietta Materials will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s payout ratio is presently 9.85%.

Institutional Trading of Martin Marietta Materials

Several institutional investors and hedge funds have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. boosted its position in shares of Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after buying an additional 37 shares during the last quarter. Asset Dedication LLC boosted its holdings in Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares during the last quarter. First Personal Financial Services purchased a new stake in shares of Martin Marietta Materials in the third quarter valued at about $33,000. Fortitude Family Office LLC lifted its position in shares of Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after purchasing an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in Martin Marietta Materials during the first quarter worth about $41,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

About Martin Marietta Materials

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.