Analysts Set Martin Marietta Materials, Inc. (NYSE:MLM) PT at $610.25

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $613.00.

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. The Goldman Sachs Group upped their price objective on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $600.00 price objective (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Citigroup reduced their price objective on shares of Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Stifel Nicolaus reduced their price objective on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Schear Investment Advisers LLC boosted its holdings in Martin Marietta Materials by 1.2% in the 4th quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock worth $822,000 after buying an additional 20 shares during the period. Mather Group LLC. lifted its stake in Martin Marietta Materials by 13.6% in the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock worth $90,000 after purchasing an additional 20 shares in the last quarter. Parallel Advisors LLC lifted its stake in Martin Marietta Materials by 1.8% in the 4th quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock worth $584,000 after purchasing an additional 21 shares in the last quarter. Pitcairn Co. lifted its stake in Martin Marietta Materials by 5.0% in the 1st quarter. Pitcairn Co. now owns 442 shares of the construction company’s stock worth $271,000 after purchasing an additional 21 shares in the last quarter. Finally, Independence Bank of Kentucky lifted its stake in Martin Marietta Materials by 16.9% in the 4th quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock worth $76,000 after purchasing an additional 22 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 $554.52 on Thursday. The firm’s 50-day moving average price is $563.23 and its 200-day moving average price is $559.94. Martin Marietta Materials has a 1-year low of $389.90 and a 1-year high of $626.67. The firm has a market capitalization of $34.18 billion, a P/E ratio of 16.43, a P/E/G ratio of 2.47 and a beta of 0.91. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the business posted $2.16 EPS. The firm’s revenue was down 7.6% compared to the same quarter last year. Equities research analysts anticipate that Martin Marietta Materials will post 23.03 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

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.