Martin Marietta Materials, Inc. (NYSE:MLM) Receives $689.81 Consensus Price Target from Analysts

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have been assigned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $689.8125.

MLM has been the subject of a number of research analyst reports. UBS Group set a $739.00 price target on Martin Marietta Materials in a report on Sunday, May 10th. Truist Financial upped their price target on Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Wells Fargo & Company upped their price target on Martin Marietta Materials from $608.00 to $614.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. B. Riley Financial upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price target for the company in a report on Thursday, April 2nd. Finally, Zacks Research upgraded Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th.

Martin Marietta Materials Stock Down 0.5%

Shares of MLM stock opened at $539.16 on Friday. Martin Marietta Materials has a 12 month low of $525.38 and a 12 month high of $710.97. The firm has a market cap of $32.38 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The stock has a 50 day moving average of $593.67 and a 200-day moving average of $623.40. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the company earned $1.90 earnings per share. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, equities analysts predict that Martin Marietta Materials will post 19.32 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be given a dividend of $0.83 per share. The ex-dividend date is Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. Martin Marietta Materials’s payout ratio is currently 7.91%.

Institutional Trading of Martin Marietta Materials

A number of institutional investors and hedge funds have recently modified their holdings of MLM. Integrated Wealth Concepts LLC increased its position in shares of Martin Marietta Materials by 6.6% during the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock valued at $379,000 after purchasing an additional 49 shares during the period. Empowered Funds LLC increased its position in shares of Martin Marietta Materials by 11.4% during the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after purchasing an additional 144 shares during the period. Sivia Capital Partners LLC increased its position in shares of Martin Marietta Materials by 11.1% during the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock valued at $280,000 after purchasing an additional 51 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Martin Marietta Materials by 205.9% during the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock valued at $143,000 after purchasing an additional 175 shares during the period. Finally, Cresset Asset Management LLC increased its position in shares of Martin Marietta Materials by 22.6% during the second quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock valued at $427,000 after purchasing an additional 143 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Company Profile

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.