Martin Marietta Materials (NYSE:MLM) Given New $665.00 Price Target at Jefferies Financial Group

Martin Marietta Materials (NYSE:MLM) had its price target upped by Jefferies Financial Group from $660.00 to $665.00 in a report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other analysts also recently commented on the company. The Goldman Sachs Group increased their target price on Martin Marietta Materials from $642.00 to $737.00 and gave the company a buy rating in a research note on Tuesday, April 16th. StockNews.com downgraded Martin Marietta Materials from a buy rating to a hold rating in a research note on Thursday, May 9th. Stifel Nicolaus cut their target price on Martin Marietta Materials from $650.00 to $630.00 and set a buy rating on the stock in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. reiterated a neutral rating and set a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. Finally, Truist Financial raised their price target 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. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $617.33.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $559.08 on Wednesday. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $34.46 billion, a P/E ratio of 16.57, a PEG ratio of 2.51 and a beta of 0.91. The stock’s 50 day moving average is $559.49 and its 200 day moving average is $562.28. Martin Marietta Materials has a twelve month low of $389.90 and a twelve month high of $626.67.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.88 by $0.05. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the business posted $2.16 EPS. The company’s revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts predict that Martin Marietta Materials will post 22.97 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were given a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.96 annualized dividend and a yield of 0.53%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.77%.

Hedge Funds Weigh In On Martin Marietta Materials

Institutional investors and hedge funds have recently bought and sold shares of the stock. Riverview Trust Co purchased a new position in Martin Marietta Materials during the first quarter valued at $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in Martin Marietta Materials during the fourth quarter valued at $25,000. Redmont Wealth Advisors LLC purchased a new position in Martin Marietta Materials during the first quarter valued at $31,000. Pinnacle Bancorp Inc. purchased a new position in Martin Marietta Materials during the fourth quarter valued at $26,000. Finally, Exchange Traded Concepts LLC purchased a new position in Martin Marietta Materials during the fourth quarter valued at $27,000. 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.