Martin Marietta Materials, Inc. (NYSE:MLM) Receives $588.69 Consensus Price Target from Brokerages

Martin Marietta Materials, Inc. (NYSE:MLM) has earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $588.69.

A number of brokerages have issued reports on MLM. The Goldman Sachs Group boosted their price target on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Wolfe Research downgraded Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. HSBC raised Martin Marietta Materials from a “reduce” rating to a “hold” rating and upped their target price for the stock from $376.00 to $543.00 in a research note on Thursday, February 22nd. Truist Financial upped their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, Raymond James upped their target price on Martin Marietta Materials from $505.00 to $555.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th.

Martin Marietta Materials Price Performance

Shares of MLM stock opened at $590.86 on Friday. Martin Marietta Materials has a fifty-two week low of $361.33 and a fifty-two week high of $626.67. The firm has a market capitalization of $36.47 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 2.91 and a beta of 0.96. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.50 and a current ratio of 3.35. The stock’s 50-day simple moving average is $596.80 and its 200-day simple moving average is $520.00.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm earned $2.16 earnings per share. The company’s revenue was down 7.6% on a year-over-year basis. As a group, equities analysts forecast that Martin Marietta Materials will post 21.3 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a yield of 0.50%. Martin Marietta Materials’s dividend payout ratio is presently 15.72%.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $543.48, for a total value of $936,959.52. Following the transaction, the director now directly owns 19,793 shares in the company, valued at approximately $10,757,099.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Martin Marietta Materials news, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $543.48, for a total value of $936,959.52. Following the transaction, the director now directly owns 19,793 shares in the company, valued at approximately $10,757,099.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of Martin Marietta Materials stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total value of $6,032,900.00. Following the completion of the transaction, the executive vice president now owns 59,970 shares in the company, valued at $36,179,301.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,724 shares of company stock worth $16,033,760. 0.59% of the stock is currently owned by insiders.

Institutional Trading of Martin Marietta Materials

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Martin Marietta Materials by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after buying an additional 69,701 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Martin Marietta Materials by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company’s stock worth $838,421,000 after purchasing an additional 181,136 shares during the last quarter. FMR LLC raised its holdings in Martin Marietta Materials by 225.3% during the third quarter. FMR LLC now owns 1,833,959 shares of the construction company’s stock worth $752,803,000 after purchasing an additional 1,270,116 shares during the last quarter. Norges Bank acquired a new position in Martin Marietta Materials during the fourth quarter worth $308,705,000. Finally, Northern Trust Corp raised its holdings in Martin Marietta Materials by 3.8% during the third quarter. Northern Trust Corp now owns 615,467 shares of the construction company’s stock worth $252,637,000 after purchasing an additional 22,391 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Company Profile

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.