Martin Marietta Materials (NYSE:MLM) Price Target Raised to $737.00

Martin Marietta Materials (NYSE:MLM) had its target price raised by The Goldman Sachs Group from $642.00 to $737.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

A number of other research firms also recently commented on MLM. JPMorgan Chase & Co. reaffirmed a neutral rating and set a $600.00 price objective (up from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Stephens raised their price objective on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the stock an overweight rating in a report on Friday, February 16th. HSBC raised shares of Martin Marietta Materials from a reduce rating to a hold rating and raised their price objective for the stock from $376.00 to $543.00 in a report on Thursday, February 22nd. Truist Financial increased their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. Finally, Wolfe Research cut shares of Martin Marietta Materials from an outperform rating to a peer perform rating in a research report on Friday, March 8th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $588.69.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $594.59 on Tuesday. The firm has a fifty day moving average price of $582.21 and a two-hundred day moving average price of $506.31. The company has a market cap of $36.76 billion, a PE ratio of 31.58, a price-to-earnings-growth ratio of 2.94 and a beta of 0.96. Martin Marietta Materials has a fifty-two week low of $343.79 and a fifty-two week high of $626.67. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.67. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm earned $3.04 EPS. Analysts expect that Martin Marietta Materials will post 21.09 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.50%. The ex-dividend date was Friday, March 1st. Martin Marietta Materials’s payout ratio is presently 15.72%.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the sale, the chief executive officer now owns 134,640 shares in the company, valued at approximately $81,357,566.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the sale, the chief executive officer now owns 134,640 shares in the company, valued at approximately $81,357,566.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the sale, the director now owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,724 shares of company stock worth $16,033,760. 0.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Martin Marietta Materials

Several institutional investors have recently modified their holdings of MLM. Fairfield Bush & CO. acquired a new stake in shares of Martin Marietta Materials during the 1st quarter worth approximately $46,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Martin Marietta Materials by 4.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 391,276 shares of the construction company’s stock worth $150,599,000 after buying an additional 15,163 shares during the period. Yousif Capital Management LLC grew its position in shares of Martin Marietta Materials by 0.4% during the 1st quarter. Yousif Capital Management LLC now owns 9,391 shares of the construction company’s stock worth $3,615,000 after buying an additional 40 shares during the period. Prudential PLC bought a new position in Martin Marietta Materials during the 1st quarter worth approximately $456,000. Finally, Cetera Investment Advisers boosted its stake in Martin Marietta Materials by 12.8% during the 1st quarter. Cetera Investment Advisers now owns 950 shares of the construction company’s stock worth $366,000 after acquiring an additional 108 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.