Martin Marietta Materials (NYSE:MLM) Price Target Cut to $640.00 by Analysts at Barclays

Martin Marietta Materials (NYSE:MLM) had its price objective cut by Barclays from $675.00 to $640.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Several other brokerages have also recently weighed in on MLM. B. Riley Financial assumed coverage on Martin Marietta Materials in a research report on Thursday, January 15th. They set a “neutral” rating and a $700.00 price target on the stock. Citigroup raised their price objective on shares of Martin Marietta Materials from $780.00 to $804.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Truist Financial set a $710.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 12th. Zacks Research lowered shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Friday, February 13th. Finally, Stephens lowered their target price on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Martin Marietta Materials currently has an average rating of “Hold” and a consensus target price of $694.69.

Martin Marietta Materials Stock Up 2.7%

MLM opened at $589.02 on Tuesday. Martin Marietta Materials has a 12 month low of $441.95 and a 12 month high of $710.97. The company has a market cap of $35.52 billion, a PE ratio of 31.33, a price-to-earnings-growth ratio of 2.25 and a beta of 1.13. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $637.48 and a 200 day moving average of $629.25.

Martin Marietta Materials (NYSE:MLM) last released 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). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.79 earnings per share. On average, sell-side analysts expect that Martin Marietta Materials will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is 17.66%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Optima Capital LLC bought a new stake in Martin Marietta Materials during the fourth quarter valued at approximately $25,000. Quent Capital LLC bought a new position in shares of Martin Marietta Materials in the 3rd quarter worth $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Martin Marietta Materials during the 3rd quarter valued at $27,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Martin Marietta Materials during the 2nd quarter worth $28,000. Finally, Garton & Associates Financial Advisors LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth $31,000. 95.04% of the stock is currently owned by institutional investors.

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.