Martin Marietta Materials, Inc. (NYSE:MLM) Receives Average Recommendation of “Buy” from Brokerages

Martin Marietta Materials, Inc. (NYSE:MLM – Get Rating) has been given a consensus recommendation of “Buy” by the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $443.30.

MLM has been the subject of several recent research reports. Barclays dropped their price objective on shares of Martin Marietta Materials from $485.00 to $450.00 and set an “overweight” rating for the company in a research report on Friday, February 11th. DA Davidson dropped their price objective on shares of Martin Marietta Materials from $465.00 to $450.00 in a research report on Monday, February 14th. Morgan Stanley dropped their price objective on shares of Martin Marietta Materials from $470.00 to $441.00 and set an “overweight” rating for the company in a research report on Monday, April 18th. Finally, StockNews.com assumed coverage on shares of Martin Marietta Materials in a research report on Thursday, March 31st. They issued a “sell” rating for the company.

A number of hedge funds and other institutional investors have recently bought and sold shares of MLM. Marshall Wace North America L.P. bought a new position in Martin Marietta Materials during the 1st quarter valued at $62,000. Amundi Pioneer Asset Management Inc. boosted its stake in Martin Marietta Materials by 18.5% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 26,779 shares of the construction company’s stock valued at $5,387,000 after acquiring an additional 4,176 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Martin Marietta Materials by 14.7% during the 3rd quarter. Victory Capital Management Inc. now owns 38,715 shares of the construction company’s stock valued at $13,228,000 after acquiring an additional 4,968 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Martin Marietta Materials by 1.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 7,229 shares of the construction company’s stock valued at $2,471,000 after acquiring an additional 93 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Martin Marietta Materials by 0.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 38,417 shares of the construction company’s stock worth $13,125,000 after buying an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 93.49% of the company’s stock.

NYSE:MLM opened at $355.36 on Tuesday. The company has a quick ratio of 1.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.78. The company has a market cap of $22.16 billion, a P/E ratio of 31.67, a P/E/G ratio of 1.41 and a beta of 0.79. Martin Marietta Materials has a fifty-two week low of $329.69 and a fifty-two week high of $446.46. The firm’s 50 day moving average is $373.86 and its two-hundred day moving average is $395.61.

Martin Marietta Materials (NYSE:MLM – Get Rating) last released its quarterly earnings data on Thursday, February 10th. The construction company reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.21. Martin Marietta Materials had a net margin of 12.98% and a return on equity of 12.31%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the business earned $2.93 earnings per share. The business’s quarterly revenue was up 26.9% compared to the same quarter last year. Research analysts forecast that Martin Marietta Materials will post 13.46 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 1st were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Monday, February 28th. This represents a $2.44 dividend on an annualized basis and a yield of 0.69%. Martin Marietta Materials’s dividend payout ratio (DPR) is 21.75%.

About Martin Marietta Materials (Get Rating)

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.

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