Martin Marietta Materials, Inc. (NYSE:MLM) Receives $629.82 Average Target Price from Brokerages

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have received an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $629.82.

A number of brokerages recently issued reports on MLM. Truist Financial cut their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Stephens dropped their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Morgan Stanley raised their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Stifel Nicolaus cut their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Loop Capital lowered their price target on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th.

Institutional Investors Weigh In On Martin Marietta Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC increased its position in Martin Marietta Materials by 2.8% during the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock valued at $360,000 after purchasing an additional 18 shares during the period. Mather Group LLC. boosted its position in Martin Marietta Materials by 13.6% during the second quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after purchasing an additional 20 shares in the last quarter. TFG Advisers LLC grew its stake in Martin Marietta Materials by 3.7% in the second quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after purchasing an additional 20 shares during the last quarter. Meiji Yasuda Life Insurance Co lifted its position in shares of Martin Marietta Materials by 3.0% during the second quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock valued at $368,000 after buying an additional 20 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 1.8% in the 4th quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock valued at $584,000 after buying an additional 21 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $539.63 on Tuesday. The firm’s 50 day moving average price is $538.74 and its 200-day moving average price is $565.39. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $32.98 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 3.78 and a beta of 0.91. Martin Marietta Materials has a twelve month low of $389.90 and a twelve month high of $626.67.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The company’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $5.60 EPS. Equities research analysts expect that Martin Marietta Materials will post 19.33 EPS for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.59%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s payout ratio is presently 9.36%.

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.