Martin Marietta Materials, Inc. (NYSE:MLM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have been given an average recommendation of “Moderate Buy” by the thirteen analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $626.64.

Several equities research analysts recently commented on MLM shares. StockNews.com cut Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Truist Financial cut their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday. Jefferies Financial Group increased their price target on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Stephens cut their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday. Finally, The Goldman Sachs Group increased 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.

Institutional Investors Weigh In On Martin Marietta Materials

Institutional investors have recently modified their holdings of the company. Riverview Trust Co acquired a new stake in shares of Martin Marietta Materials in the first quarter valued at $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the first quarter valued at $31,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at $26,000. Finally, Benjamin Edwards Inc. grew its stake in shares of Martin Marietta Materials by 78.8% in the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after buying an additional 26 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $533.55 on Monday. The company has a market cap of $32.89 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 3.12 and a beta of 0.91. The stock’s 50 day simple moving average is $552.88 and its 200-day simple moving average is $568.97. Martin Marietta Materials has a 1-year low of $389.90 and a 1-year high of $626.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, August 8th. The construction company reported $5.26 earnings per share for the quarter, missing the consensus estimate of $5.57 by ($0.31). The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the business earned $5.60 EPS. As a group, equities research analysts anticipate that Martin Marietta Materials will post 22.86 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a $0.74 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.55%. Martin Marietta Materials’s payout ratio is presently 8.77%.

About Martin Marietta Materials

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.