Analysts Set Martin Marietta Materials, Inc. (NYSE:MLM) Target Price at $634.85

Martin Marietta Materials, Inc. (NYSE:MLM) has received a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $634.85.

Several brokerages recently weighed in on MLM. Stephens lowered their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Jefferies Financial Group dropped their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Barclays boosted their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley raised their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $582.68 on Wednesday. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average of $559.08 and a 200-day moving average of $556.37. The stock has a market cap of $35.61 billion, a P/E ratio of 18.16, a price-to-earnings-growth ratio of 3.90 and a beta of 0.90. Martin Marietta Materials has a 52 week low of $451.37 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $6.94 earnings per share. On average, analysts expect that Martin Marietta Materials will post 17.84 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a $0.79 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. Martin Marietta Materials’s payout ratio is currently 9.85%.

Hedge Funds Weigh In On Martin Marietta Materials

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. increased its holdings in shares of Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after purchasing an additional 37 shares during the period. Asset Dedication LLC increased its stake in Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares during the period. First Personal Financial Services bought a new stake in shares of Martin Marietta Materials during the 3rd quarter worth about $33,000. Fortitude Family Office LLC lifted its stake in shares of Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after acquiring an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Martin Marietta Materials in the 1st quarter worth approximately $41,000. 95.04% of the stock is owned by 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.