Martin Marietta Materials, Inc. (NYSE:MLM) Receives Consensus Rating of “Hold” from Analysts

Martin Marietta Materials, Inc. (NYSE:MLM) has been given an average recommendation of “Hold” by the seventeen brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $696.8750.

Several analysts have recently issued reports on MLM shares. Jefferies Financial Group reiterated a “buy” rating and set a $785.00 price target on shares of Martin Marietta Materials in a research note on Thursday, February 26th. B. Riley Financial began coverage on Martin Marietta Materials in a research note on Thursday, January 15th. They issued a “neutral” rating and a $700.00 price objective on the stock. Loop Capital cut Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 target price for the company. in a research report on Wednesday, January 28th. DA Davidson set a $680.00 price target on Martin Marietta Materials in a report on Thursday, February 12th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $630.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 26th.

Martin Marietta Materials Stock Down 1.5%

Martin Marietta Materials stock opened at $571.20 on Friday. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. Martin Marietta Materials has a 1-year low of $441.95 and a 1-year high of $710.97. The firm’s fifty day simple moving average is $639.88 and its 200-day simple moving average is $629.65. The company has a market capitalization of $34.45 billion, a P/E ratio of 30.38, a P/E/G ratio of 2.27 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the company posted $4.79 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Sell-side analysts forecast that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s payout ratio is currently 17.66%.

Institutional Investors Weigh In On Martin Marietta Materials

Several hedge funds and other institutional investors have recently made changes to their positions in MLM. J. Derek Lewis & Associates Inc. bought a new stake in Martin Marietta Materials during the 4th quarter valued at approximately $215,000. Stance Capital LLC acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth approximately $1,375,000. Rockefeller Capital Management L.P. boosted its position in shares of Martin Marietta Materials by 32.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 14,382 shares of the construction company’s stock valued at $8,955,000 after acquiring an additional 3,554 shares during the period. Osbon Capital Management LLC bought a new stake in shares of Martin Marietta Materials in the fourth quarter valued at approximately $85,000. Finally, Worthington Financial Partners LLC bought a new position in Martin Marietta Materials during the fourth quarter worth $967,000. 95.04% of the stock is owned by institutional investors and hedge funds.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.