Martin Marietta Materials, Inc. (NYSE:MLM) Stock Has Average Price Target of $642.60

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have been given an average recommendation of “Moderate Buy” by the twenty-four brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $634.75.

Several research firms recently weighed in on MLM. HSBC reduced their target price on shares of Martin Marietta Materials from $750.00 to $665.00 and set a “buy” rating on the stock in a report on Tuesday, September 8th. JPMorgan Chase & Co. lowered their price target on Martin Marietta Materials from $680.00 to $650.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. DA Davidson raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $610.00 price objective on the stock in a research report on Friday, October 16th. Stephens reduced their price objective on Martin Marietta Materials from $680.00 to $600.00 and set an “overweight” rating on the stock in a research note on Friday, October 2nd. Finally, Zacks Research downgraded Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th.

Institutional Trading of Martin Marietta Materials

Large investors have recently bought and sold shares of the company. AMG National Trust Bank lifted its position in shares of Martin Marietta Materials by 3.6% during the first quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock worth $291,000 after purchasing an additional 17 shares in the last quarter. AlTi Global Inc. boosted its stake in shares of Martin Marietta Materials by 1.2% in the first quarter. AlTi Global Inc. now owns 1,496 shares of the construction company’s stock valued at $881,000 after purchasing an additional 18 shares during the period. Meeder Asset Management Inc. increased its stake in Martin Marietta Materials by 67.9% during the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after buying an additional 19 shares during the period. Castle Wealth Management LLC increased its stake in Martin Marietta Materials by 2.2% during the 1st quarter. Castle Wealth Management LLC now owns 1,082 shares of the construction company’s stock worth $637,000 after buying an additional 23 shares during the period. Finally, Western Wealth Management LLC increased its stake in Martin Marietta Materials by 5.1% during the 1st quarter. Western Wealth Management LLC now owns 559 shares of the construction company’s stock worth $329,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 1.2%

MLM opened at $517.80 on Friday. Martin Marietta Materials has a 1 year low of $464.92 and a 1 year high of $710.97. The firm has a 50 day moving average price of $503.56 and a 200 day moving average price of $570.95. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.91 and a current ratio of 1.63. The company has a market cap of $36.83 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 2.89 and a beta of 1.02.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, November 4th. The construction company reported $5.47 earnings per share for the quarter, missing analysts’ consensus estimates of $5.99 by ($0.52). Martin Marietta Materials had a net margin of 31.88% and a return on equity of 7.96%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the firm earned $6.85 earnings per share. The company’s quarterly revenue was up 28.3% on a year-over-year basis. Sell-side analysts expect that Martin Marietta Materials will post 15.30 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 1st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, December 1st. Martin Marietta Materials’s dividend payout ratio is currently 8.89%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc. is a U.S.-based supplier of building materials used in construction and infrastructure projects. Its products include crushed stone, sand and gravel, cement, ready-mixed concrete and asphalt. The company also produces specialty products through its magnesia-based business, including lime, chemicals and products used in industrial and environmental applications. Its construction materials operations serve markets across the United States. Martin Marietta traces its roots to 1939 and has grown through acquisitions and expansion of its materials operations.