Martin Marietta Materials, Inc. (NYSE:MLM) Receives $653.08 Consensus Target Price from Brokerages

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have received an average rating of “Buy” from the sixteen analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $643.36.

Several brokerages have issued reports on MLM. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target on the stock in a report on Wednesday, December 11th. Barclays raised their price target on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Wolfe Research upgraded Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective on the stock in a research report on Wednesday. Jefferies Financial Group dropped their price objective on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $517.31 on Thursday. Martin Marietta Materials has a 12 month low of $488.30 and a 12 month high of $633.23. The firm has a market capitalization of $31.62 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 3.74 and a beta of 0.91. The business’s 50 day simple moving average is $568.26 and its 200-day simple moving average is $551.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the business earned $6.94 EPS. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. As a group, equities analysts forecast that Martin Marietta Materials will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.61%. Martin Marietta Materials’s payout ratio is 9.85%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MLM. Newbridge Financial Services Group Inc. boosted its position in shares of Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after buying an additional 37 shares during the period. Asset Dedication LLC lifted its position 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 in the last quarter. First Personal Financial Services purchased a new position in Martin Marietta Materials in the 3rd quarter worth approximately $33,000. Rothschild Investment LLC acquired a new stake in Martin Marietta Materials in the second quarter valued at approximately $43,000. Finally, Larson Financial Group LLC acquired a new stake in Martin Marietta Materials in the third quarter valued at approximately $49,000. 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.