Martin Marietta Materials (NYSE:MLM) Price Target Raised to $645.00 at Barclays

Martin Marietta Materials (NYSE:MLM) had its price target hoisted by Barclays from $595.00 to $645.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

Other research analysts have also issued reports about the company. Truist Financial dropped their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Stephens decreased 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 research note on Friday, August 9th. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Citigroup cut their price objective on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, StockNews.com lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus price target of $621.50.

Martin Marietta Materials Trading Up 1.0 %

Shares of NYSE MLM opened at $583.88 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. Martin Marietta Materials has a 12 month low of $398.59 and a 12 month high of $626.67. The company has a market cap of $35.68 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 4.62 and a beta of 0.91. The business has a fifty day simple moving average of $537.67 and a 200-day simple moving average of $555.91.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.60). The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the business earned $5.60 earnings per share. Sell-side analysts predict that Martin Marietta Materials will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.54%. Martin Marietta Materials’s payout ratio is 9.60%.

Institutional Investors Weigh In On Martin Marietta Materials

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its position in Martin Marietta Materials by 18.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,722 shares of the construction company’s stock worth $3,513,000 after purchasing an additional 881 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Martin Marietta Materials by 0.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 148,571 shares of the construction company’s stock worth $91,214,000 after buying an additional 682 shares in the last quarter. State of Alaska Department of Revenue grew its position in Martin Marietta Materials by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 6,704 shares of the construction company’s stock worth $4,115,000 after buying an additional 30 shares in the last quarter. Redmont Wealth Advisors LLC bought a new position in Martin Marietta Materials during the first quarter valued at about $31,000. Finally, Norden Group LLC acquired a new position in Martin Marietta Materials in the 1st quarter valued at approximately $2,089,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.