Martin Marietta Materials, Inc. (NYSE:MLM) Receives Average Rating of “Moderate Buy” from Analysts

Martin Marietta Materials, Inc. (NYSE:MLM) has been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $626.64.

MLM has been the subject of a number of analyst reports. Stephens decreased their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research note on Friday. Loop Capital lowered their target price on shares of Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Truist Financial cut their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research note on Friday. StockNews.com lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Finally, Jefferies Financial Group upped their target price on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th.

Martin Marietta Materials Stock Down 1.0 %

Shares of MLM opened at $533.55 on Monday. The firm has a fifty day moving average price of $553.64 and a 200-day moving average price of $568.31. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $32.89 billion, a P/E ratio of 15.82, a P/E/G ratio of 3.12 and a beta of 0.91. Martin Marietta Materials has a 12-month low of $389.90 and a 12-month high of $626.67.

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

Martin Marietta Materials Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.55%. Martin Marietta Materials’s payout ratio is 8.77%.

Institutional Trading of Martin Marietta Materials

A number of hedge funds and other institutional investors have recently modified their holdings of MLM. Ameritas Advisory Services LLC boosted its stake in Martin Marietta Materials by 2.8% during the second quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock worth $360,000 after buying an additional 18 shares during the period. Schear Investment Advisers LLC boosted its position in shares of Martin Marietta Materials by 1.2% during the 4th quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock worth $822,000 after acquiring an additional 20 shares in the last quarter. Mather Group LLC. increased its holdings in shares of Martin Marietta Materials by 13.6% in the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after acquiring an additional 20 shares during the last quarter. TFG Advisers LLC increased its holdings in shares of Martin Marietta Materials by 3.7% in the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after acquiring an additional 20 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Martin Marietta Materials by 1.8% during the 4th quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock worth $584,000 after acquiring an additional 21 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

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.