Martin Marietta Materials (NYSE:MLM) PT Raised to $737.00 at The Goldman Sachs Group

Martin Marietta Materials (NYSE:MLM) had its target price raised by The Goldman Sachs Group from $642.00 to $737.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the construction company’s stock.

MLM has been the topic of several other research reports. Raymond James lifted their price objective on Martin Marietta Materials from $505.00 to $555.00 and gave the company an outperform rating in a report on Thursday, January 25th. HSBC upgraded Martin Marietta Materials from a reduce rating to a hold rating and lifted their price objective for the company from $376.00 to $543.00 in a report on Thursday, February 22nd. Wolfe Research cut Martin Marietta Materials from an outperform rating to a peer perform rating in a report on Friday, March 8th. Truist Financial lifted their price objective 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, StockNews.com cut Martin Marietta Materials from a buy rating to a hold rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials has an average rating of Moderate Buy and a consensus target price of $588.69.

Martin Marietta Materials Price Performance

Shares of MLM opened at $576.12 on Tuesday. The company has a current ratio of 3.35, a quick ratio of 2.50 and a debt-to-equity ratio of 0.49. Martin Marietta Materials has a 1 year low of $343.79 and a 1 year high of $626.67. The stock has a market cap of $35.56 billion, a P/E ratio of 30.60, a price-to-earnings-growth ratio of 2.85 and a beta of 0.96. The stock’s 50-day moving average price is $587.38 and its two-hundred day moving average price is $509.94.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.67. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the business earned $3.04 earnings per share. The company’s revenue was up 8.9% compared to the same quarter last year. On average, equities analysts predict that Martin Marietta Materials will post 21.23 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s payout ratio is 15.72%.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the transaction, the executive vice president now owns 59,970 shares of the company’s stock, valued at approximately $36,179,301.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Martin Marietta Materials news, Director Sue W. Cole sold 1,724 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the transaction, the director now owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total value of $6,032,900.00. Following the transaction, the executive vice president now directly owns 59,970 shares in the company, valued at approximately $36,179,301.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,724 shares of company stock worth $16,033,760. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Riverview Trust Co acquired a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $25,000. Redmont Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $31,000. Pinnacle Bancorp Inc. acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $26,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $27,000. 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.