Analysts Set Martin Marietta Materials, Inc. (NYSE:MLM) Price Target at $610.27

Martin Marietta Materials, Inc. (NYSE:MLM) has earned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $610.27.

MLM has been the subject of several recent analyst reports. Wolfe Research cut shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Stifel Nicolaus lifted their price objective on Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. StockNews.com lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Truist Financial lifted their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, Citigroup increased their price target on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a report on Friday, April 5th.

Martin Marietta Materials Stock Down 2.7 %

Shares of MLM opened at $558.62 on Friday. The stock’s 50-day moving average price is $582.81 and its two-hundred day moving average price is $553.15. Martin Marietta Materials has a 12 month low of $389.90 and a 12 month high of $626.67. The company has a market capitalization of $34.43 billion, a PE ratio of 16.55, a PEG ratio of 2.49 and a beta of 0.93. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.16 earnings per share. On average, analysts anticipate that Martin Marietta Materials will post 23.29 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.74 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.96 dividend on an annualized basis and a yield of 0.53%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.77%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MLM. FMR LLC lifted its position in Martin Marietta Materials by 225.3% in the 3rd quarter. FMR LLC now owns 1,833,959 shares of the construction company’s stock valued at $752,803,000 after acquiring an additional 1,270,116 shares in the last quarter. Norges Bank bought a new position in shares of Martin Marietta Materials in the fourth quarter valued at approximately $308,705,000. Price T Rowe Associates Inc. MD boosted its position in shares of Martin Marietta Materials by 114.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after buying an additional 523,038 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Martin Marietta Materials by 4,244.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company’s stock valued at $138,289,000 after buying an additional 270,802 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Martin Marietta Materials by 9.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company’s stock valued at $838,421,000 after buying an additional 181,136 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

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.