Martin Marietta Materials, Inc. (NYSE:MLM) Stock Has Average Price Target of $644.71 According to Analysts

Martin Marietta Materials, Inc. (NYSE:MLM) has been given an average rating of “Moderate Buy” by the twenty research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $642.65.

Several brokerages have issued reports on MLM. Royal Bank Of Canada cut their price objective on Martin Marietta Materials from $620.00 to $530.00 and set a “sector perform” rating on the stock in a research note on Friday, October 9th. JPMorgan Chase & Co. reduced their target price on Martin Marietta Materials from $680.00 to $650.00 and set an “overweight” rating on the stock in a report on Tuesday. Wells Fargo & Company decreased their target price on Martin Marietta Materials from $585.00 to $579.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Raymond James Financial decreased their target price on Martin Marietta Materials from $660.00 to $640.00 and set an “outperform” rating for the company in a research report on Friday. Finally, UBS Group lowered their price target on Martin Marietta Materials from $715.00 to $662.00 and set a “buy” rating for the company in a report on Thursday, October 8th.

Martin Marietta Materials Price Performance

MLM opened at $499.97 on Wednesday. The company has a 50-day moving average of $507.17 and a 200-day moving average of $557.18. The company has a market capitalization of $30.03 billion, a P/E ratio of 29.33, a PEG ratio of 2.28 and a beta of 1.08. Martin Marietta Materials has a 1-year low of $464.92 and a 1-year high of $710.97. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.73 and a current ratio of 1.41.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping the consensus estimate of $4.76 by $0.24. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the company posted $5.43 earnings per share. Equities analysts expect that Martin Marietta Materials will post 18.17 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.7%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date was Tuesday, September 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 8.26%.

Institutional Trading of Martin Marietta Materials

Institutional investors have recently added to or reduced their stakes in the business. Bank of Nova Scotia acquired a new stake in Martin Marietta Materials during the second quarter worth about $3,650,000. Hsbc Holdings PLC lifted its holdings in Martin Marietta Materials by 6.6% in the second quarter. Hsbc Holdings PLC now owns 118,981 shares of the construction company’s stock worth $68,541,000 after acquiring an additional 7,361 shares during the last quarter. National Pension Service lifted its holdings in Martin Marietta Materials by 6.4% in the second quarter. National Pension Service now owns 95,221 shares of the construction company’s stock worth $54,914,000 after acquiring an additional 5,739 shares during the last quarter. Montanova Capital LLC bought a new position in Martin Marietta Materials in the second quarter worth about $14,994,000. Finally, Bank of America Corp DE acquired a new position in Martin Marietta Materials in the second quarter valued at approximately $1,411,047,000. Institutional investors own 95.04% of the company’s stock.

About Martin Marietta Materials

Martin Marietta Materials, Inc is a producer and supplier of construction materials used in infrastructure, commercial, residential, and industrial projects. The company’s principal products include crushed stone, sand, gravel, cement, ready-mixed concrete, asphalt, and related paving materials.

The company serves customers primarily across the United States, with operations concentrated in major markets experiencing demand for transportation infrastructure, building construction, and other development projects.