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

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have been given an average recommendation of “Moderate Buy” by the twenty ratings firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $622.6250.

A number of analysts have recently weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Saturday, September 27th. Morgan Stanley raised their price target on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Royal Bank Of Canada reissued a “sector perform” rating and set a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. DA Davidson raised their price target on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Finally, Stifel Nicolaus raised their price target on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th.

Martin Marietta Materials Stock Up 1.2%

Shares of NYSE:MLM opened at $635.61 on Friday. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. Martin Marietta Materials has a 52-week low of $441.95 and a 52-week high of $637.36. The company has a 50 day moving average of $610.18 and a two-hundred day moving average of $557.70. The company has a market capitalization of $38.33 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 5.69 and a beta of 1.01.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.01). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the business posted $4.76 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, analysts forecast that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were issued a $0.83 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Martin Marietta Materials’s dividend payout ratio is presently 18.41%.

Insider Buying and Selling

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction on Friday, August 8th. The shares were sold at an average price of $613.32, for a total value of $636,626.16. Following the completion of the transaction, the director owned 15,417 shares of the company’s stock, valued at $9,455,554.44. The trade was a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Martin Marietta Materials

A number of hedge funds have recently added to or reduced their stakes in the business. Aaron Wealth Advisors LLC boosted its holdings in Martin Marietta Materials by 61.5% in the third quarter. Aaron Wealth Advisors LLC now owns 617 shares of the construction company’s stock worth $389,000 after purchasing an additional 235 shares during the period. First Citizens Financial Corp acquired a new position in Martin Marietta Materials in the third quarter worth $263,000. GAMMA Investing LLC boosted its holdings in Martin Marietta Materials by 14.5% in the third quarter. GAMMA Investing LLC now owns 1,974 shares of the construction company’s stock worth $1,244,000 after purchasing an additional 250 shares during the period. Corient Private Wealth LLC boosted its holdings in Martin Marietta Materials by 1.6% in the second quarter. Corient Private Wealth LLC now owns 71,410 shares of the construction company’s stock worth $39,201,000 after purchasing an additional 1,146 shares during the period. Finally, Caldwell Trust Co acquired a new position in Martin Marietta Materials in the second quarter worth $58,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.