Martin Marietta Materials, Inc. (NYSE:MLM) Receives $223.84 Consensus Target Price from Analysts

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have been assigned a consensus recommendation of “Buy” from the fifteen research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $223.84.

A number of research analysts have weighed in on MLM shares. Zacks Investment Research lowered shares of GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a research note on Monday, May 6th. Bank of America lowered shares of Propetro from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. Citigroup raised their price objective on shares of Martin Marietta Materials from $239.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Goldman Sachs Group raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and raised their price objective for the company from $207.00 to $232.00 in a research note on Thursday, April 11th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 3,620 ($47.30) price objective on shares of Bellway in a research note on Wednesday, April 3rd.

In related news, Chairman C Howard Nye sold 14,668 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $220.48, for a total transaction of $3,234,000.64. Following the transaction, the chairman now directly owns 167,019 shares of the company’s stock, valued at $36,824,349.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Laree E. Perez sold 824 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $231.80, for a total transaction of $191,003.20. Following the transaction, the director now directly owns 14,136 shares in the company, valued at $3,276,724.80. The disclosure for this sale can be found here. Insiders have sold 18,675 shares of company stock worth $4,125,869 over the last three months. 0.73% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Egerton Capital UK LLP lifted its position in shares of Martin Marietta Materials by 40.6% during the first quarter. Egerton Capital UK LLP now owns 2,204,702 shares of the construction company’s stock valued at $443,542,000 after purchasing an additional 636,338 shares in the last quarter. FMR LLC lifted its position in shares of Martin Marietta Materials by 15.5% during the first quarter. FMR LLC now owns 1,700,586 shares of the construction company’s stock valued at $342,123,000 after purchasing an additional 228,367 shares in the last quarter. Geode Capital Management LLC increased its holdings in Martin Marietta Materials by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 778,969 shares of the construction company’s stock worth $133,637,000 after buying an additional 55,593 shares during the last quarter. Northern Trust Corp increased its holdings in Martin Marietta Materials by 1.6% during the first quarter. Northern Trust Corp now owns 714,199 shares of the construction company’s stock worth $143,684,000 after buying an additional 10,945 shares during the last quarter. Finally, King Luther Capital Management Corp increased its holdings in Martin Marietta Materials by 1.1% during the first quarter. King Luther Capital Management Corp now owns 631,245 shares of the construction company’s stock worth $126,994,000 after buying an additional 7,026 shares during the last quarter.

NYSE MLM traded down $1.21 on Friday, hitting $224.32. 461,729 shares of the company were exchanged, compared to its average volume of 430,507. The stock has a market capitalization of $14.12 billion, a P/E ratio of 27.73, a PEG ratio of 2.20 and a beta of 1.14. Martin Marietta Materials has a 12 month low of $150.75 and a 12 month high of $232.81. The stock’s fifty day moving average is $225.16. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 1.81.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, April 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.39. Martin Marietta Materials had a net margin of 11.48% and a return on equity of 10.82%. The business had revenue of $938.96 million for the quarter, compared to analyst estimates of $881.82 million. During the same period in the prior year, the firm earned $0.16 earnings per share. Martin Marietta Materials’s revenue was up 17.1% on a year-over-year basis. As a group, research analysts anticipate that Martin Marietta Materials will post 9.3 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, May 31st. Martin Marietta Materials’s payout ratio is currently 23.73%.

About Martin Marietta Materials

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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.

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Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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