Martin Marietta Materials, Inc. (NYSE:MLM) Receives $696.88 Average PT from Brokerages

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have earned a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $694.6875.

Several research analysts have recently weighed in on MLM shares. B. Riley Financial assumed coverage on shares of Martin Marietta Materials in a report on Thursday, January 15th. They set a “neutral” rating and a $700.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $785.00 target price on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Weiss Ratings lowered shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 23rd. Finally, Citigroup increased their price target on Martin Marietta Materials from $780.00 to $804.00 and gave the company a “buy” rating in a report on Monday, March 2nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MLM. Lido Advisors LLC increased its position in shares of Martin Marietta Materials by 0.8% during the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock valued at $1,209,000 after purchasing an additional 15 shares during the last quarter. Schear Investment Advisers LLC lifted its stake in shares of Martin Marietta Materials by 0.6% in the 3rd quarter. Schear Investment Advisers LLC now owns 2,731 shares of the construction company’s stock worth $1,721,000 after purchasing an additional 16 shares during the period. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Martin Marietta Materials by 3.9% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock worth $264,000 after buying an additional 16 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of Martin Marietta Materials by 31.4% in the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock worth $42,000 after buying an additional 16 shares during the last quarter. Finally, Daymark Wealth Partners LLC grew its position in Martin Marietta Materials by 3.9% during the third quarter. Daymark Wealth Partners LLC now owns 448 shares of the construction company’s stock valued at $283,000 after buying an additional 17 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

NYSE MLM opened at $599.48 on Friday. Martin Marietta Materials has a one year low of $441.95 and a one year high of $710.97. The stock has a 50-day moving average of $636.64 and a 200 day moving average of $629.04. The company has a market capitalization of $36.15 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 2.31 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.36 and a current ratio of 3.57.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.19). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. Martin Marietta Materials’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.79 EPS. On average, sell-side analysts forecast that Martin Marietta Materials will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 2nd were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio is 17.66%.

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.