Martin Marietta Materials (NYSE:MLM) Price Target Lowered to $630.00 at Stifel Nicolaus

Martin Marietta Materials (NYSE:MLM) had its target price trimmed by Stifel Nicolaus from $650.00 to $630.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

A number of other equities research analysts also recently weighed in on the company. Wolfe Research downgraded Martin Marietta Materials from an outperform rating to a peer perform rating in a report on Friday, March 8th. StockNews.com cut Martin Marietta Materials from a buy rating to a hold rating in a report on Thursday, May 9th. JPMorgan Chase & Co. reiterated a neutral rating and set a $600.00 target price (up previously from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Truist Financial raised their price target on Martin Marietta Materials from $610.00 to $700.00 and gave the company a buy rating in a report on Tuesday, April 2nd. Finally, Citigroup increased their target price on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a buy rating in a report on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Martin Marietta Materials has a consensus rating of Moderate Buy and an average price target of $610.25.

Martin Marietta Materials Stock Performance

MLM opened at $533.27 on Wednesday. The stock has a market cap of $32.87 billion, a PE ratio of 15.80, a P/E/G ratio of 2.40 and a beta of 0.91. Martin Marietta Materials has a 1 year low of $389.90 and a 1 year high of $626.67. The stock’s 50 day simple moving average is $570.77 and its 200-day simple moving average is $557.62. 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 announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the company posted $2.16 EPS. The business’s revenue was down 7.6% on a year-over-year basis. Sell-side analysts forecast that Martin Marietta Materials will post 23.1 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were given a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.96 annualized dividend and a dividend yield of 0.56%. Martin Marietta Materials’s payout ratio is currently 8.77%.

Institutional Trading of Martin Marietta Materials

Hedge funds have recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. bought a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $25,000. Pinnacle Bancorp Inc. acquired a new position in shares of Martin Marietta Materials in the 4th quarter valued at $26,000. Riverview Trust Co bought a new stake in shares of Martin Marietta Materials in the 1st quarter valued at $26,000. Exchange Traded Concepts LLC bought a new stake in shares of Martin Marietta Materials in the fourth quarter worth about $27,000. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Martin Marietta Materials by 78.8% during the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after purchasing an additional 26 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

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.