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

Martin Marietta Materials, Inc. (NYSE:MLM) has been given a consensus rating of “Moderate Buy” by the fourteen research firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $629.82.

Several equities research analysts have recently weighed in on MLM shares. Stifel Nicolaus lowered their price objective on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Jefferies Financial Group upped their price target on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Morgan Stanley lifted their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Truist Financial lowered their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th.

Institutional Investors Weigh In On Martin Marietta Materials

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. bought a new position in Martin Marietta Materials in the fourth quarter valued at about $25,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after purchasing an additional 37 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Martin Marietta Materials during the 1st quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Martin Marietta Materials during the first quarter worth approximately $31,000. Finally, Fortitude Family Office LLC raised its stake in shares of Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after buying an additional 41 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Down 0.1 %

Shares of MLM stock opened at $539.11 on Tuesday. The stock has a market cap of $33.23 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 3.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. The stock has a fifty day moving average price of $538.34 and a 200 day moving average price of $565.00. Martin Marietta Materials has a one year low of $389.90 and a one year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last issued 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 business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. Martin Marietta Materials’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $5.60 earnings per share. Analysts predict that Martin Marietta Materials will post 19.33 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a $0.79 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.59%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 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.