Martin Marietta Materials, Inc. (NYSE:MLM) Receives $681.94 Consensus Target Price from Brokerages

Martin Marietta Materials, Inc. (NYSE:MLM) has been assigned an average recommendation of “Moderate Buy” from the twenty research firms that are covering the company, MarketBeat reports. Ten analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $681.9412.

Several research firms have recently commented on MLM. Citigroup decreased their target price on shares of Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Raymond James Financial set a $690.00 target price on shares of Martin Marietta Materials in a research report on Monday, April 27th. Wells Fargo & Company boosted their target price on shares of Martin Marietta Materials from $608.00 to $614.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Weiss Ratings downgraded shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 8th. Finally, Zacks Research raised shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th.

Institutional Investors Weigh In On Martin Marietta Materials

Several hedge funds and other institutional investors have recently made changes to their positions in MLM. Integrated Wealth Concepts LLC grew its position in Martin Marietta Materials by 6.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after purchasing an additional 49 shares in the last quarter. Empowered Funds LLC grew its position in Martin Marietta Materials by 11.4% in the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock worth $673,000 after purchasing an additional 144 shares in the last quarter. Sivia Capital Partners LLC grew its position in Martin Marietta Materials by 11.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock worth $280,000 after purchasing an additional 51 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Martin Marietta Materials by 205.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock worth $143,000 after purchasing an additional 175 shares in the last quarter. Finally, Cresset Asset Management LLC grew its position in Martin Marietta Materials by 22.6% in the 2nd quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock worth $427,000 after purchasing an additional 143 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $588.64 on Thursday. The firm’s 50-day moving average price is $589.29 and its 200-day moving average price is $618.77. Martin Marietta Materials has a 1-year low of $525.38 and a 1-year high of $710.97. The firm has a market capitalization of $35.35 billion, a P/E ratio of 14.03, a P/E/G ratio of 2.45 and a beta of 1.10. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the business earned $1.90 earnings per share. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. Equities research analysts anticipate that Martin Marietta Materials will post 19.41 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. Martin Marietta Materials’s payout ratio is presently 7.91%.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.