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

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have received an average rating of “Moderate Buy” from the thirteen analysts that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $629.82.

Several equities analysts have issued reports on the company. Stifel Nicolaus dropped their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Citigroup dropped their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. StockNews.com cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday. Morgan Stanley boosted their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Finally, Jefferies Financial Group upped their price target on Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th.

Institutional Trading of Martin Marietta Materials

Institutional investors and hedge funds have recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new stake in Martin Marietta Materials in the 4th quarter valued at $25,000. Riverview Trust Co acquired a new stake in Martin Marietta Materials in the 1st quarter valued at $26,000. Benjamin Edwards Inc. increased its holdings in Martin Marietta Materials by 78.8% in the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after purchasing an additional 26 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Martin Marietta Materials in the 1st quarter valued at $31,000. Finally, Fortitude Family Office LLC increased its holdings in Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after purchasing an additional 41 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Up 1.9 %

Martin Marietta Materials stock opened at $534.16 on Friday. Martin Marietta Materials has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86. The company has a market capitalization of $32.65 billion, a P/E ratio of 15.83, a PEG ratio of 3.57 and a beta of 0.91. The stock has a 50-day simple moving average of $545.93 and a 200-day simple moving average of $571.02.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.36 by ($0.60). The company had revenue of $1.76 billion during 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%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $5.60 EPS. Equities research analysts expect that Martin Marietta Materials will post 20.01 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.59%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date is Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is presently 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.