Stifel Nicolaus Increases Martin Marietta Materials (NYSE:MLM) Price Target to $650.00

Martin Marietta Materials (NYSE:MLM) had its target price raised by Stifel Nicolaus from $621.00 to $650.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other research analysts also recently issued reports about the stock. HSBC upgraded shares of Martin Marietta Materials from a reduce rating to a hold rating and boosted their target price for the company from $376.00 to $543.00 in a research report on Thursday, February 22nd. Wolfe Research downgraded shares of Martin Marietta Materials from an outperform rating to a peer perform rating in a research report on Friday, March 8th. StockNews.com downgraded shares of Martin Marietta Materials from a buy rating to a hold rating in a research report on Friday, February 9th. The Goldman Sachs Group upped their price objective on shares of Martin Marietta Materials from $560.00 to $642.00 and gave the stock a buy rating in a research report on Friday, February 16th. Finally, Raymond James upped their price objective on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Martin Marietta Materials presently has a consensus rating of Moderate Buy and an average price target of $588.69.

Martin Marietta Materials Trading Down 1.0 %

NYSE MLM opened at $587.13 on Monday. The company has a market capitalization of $36.24 billion, a PE ratio of 31.18, a P/E/G ratio of 2.89 and a beta of 0.96. The company has a fifty day moving average of $586.40 and a 200 day moving average of $508.75. Martin Marietta Materials has a 1 year low of $343.79 and a 1 year high of $626.67. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.67. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.04 earnings per share. Research analysts forecast that Martin Marietta Materials will post 21.23 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were paid a dividend of $0.74 per share. The ex-dividend date was Friday, March 1st. This represents a $2.96 annualized dividend and a yield of 0.50%. Martin Marietta Materials’s dividend payout ratio is presently 15.72%.

Insider Activity at Martin Marietta Materials

In related news, Director Sue W. Cole sold 1,724 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the sale, the director now owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the sale, the chief executive officer now owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sue W. Cole sold 1,724 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the sale, the director now directly owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,724 shares of company stock valued at $16,033,760. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of Martin Marietta Materials

Several hedge funds have recently made changes to their positions in the company. SteelPeak Wealth LLC purchased a new stake in shares of Martin Marietta Materials in the 1st quarter valued at approximately $1,652,000. Atwater Malick LLC purchased a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $236,000. Cypress Wealth Services LLC purchased a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $244,000. Dohj LLC purchased a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $933,000. Finally, 180 Wealth Advisors LLC purchased a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $670,000. Hedge funds and other institutional investors 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.