Martin Marietta Materials, Inc. (NYSE:MLM) Given Consensus Rating of “Moderate Buy” by Analysts

Martin Marietta Materials, Inc. (NYSE:MLMGet Free Report) has received an average rating of “Moderate Buy” from the fourteen analysts that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $610.25.

A number of research firms have commented on MLM. Stifel Nicolaus lowered their target price on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Loop Capital decreased their price objective on 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. 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. Truist Financial boosted their target price on 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, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $600.00 price target (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd.

Check Out Our Latest Analysis on Martin Marietta Materials

Institutional Trading of Martin Marietta Materials

A number of institutional investors have recently made changes to their positions in MLM. Norges Bank acquired a new stake in Martin Marietta Materials in the 4th quarter valued at $308,705,000. Price T Rowe Associates Inc. MD raised its holdings in Martin Marietta Materials by 114.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after acquiring an additional 523,038 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in Martin Marietta Materials by 4,244.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company’s stock valued at $138,289,000 after purchasing an additional 270,802 shares during the last quarter. Corient Private Wealth LLC grew its stake in Martin Marietta Materials by 306.8% in the fourth quarter. Corient Private Wealth LLC now owns 161,690 shares of the construction company’s stock valued at $80,668,000 after purchasing an additional 121,941 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Martin Marietta Materials by 96.6% during the 4th quarter. Jennison Associates LLC now owns 157,904 shares of the construction company’s stock worth $78,780,000 after purchasing an additional 77,596 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 2.8 %

NYSE:MLM opened at $545.52 on Thursday. The company has a market cap of $33.63 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 2.36 and a beta of 0.91. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. The stock’s fifty day moving average price is $564.63 and its two-hundred day moving average price is $559.12. Martin Marietta Materials has a 52-week low of $389.90 and a 52-week high of $626.67.

Martin Marietta Materials (NYSE:MLMGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (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 analysts’ expectations of $1.31 billion. During the same quarter last year, the business earned $2.16 earnings per share. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, analysts anticipate that Martin Marietta Materials will post 23.03 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders 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 dividend yield of 0.54%. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

Martin Marietta Materials Company Profile

(Get Free Report

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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Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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