Martin Marietta Materials, Inc. (NYSE:MLM) Receives $681.94 Average Price Target from Brokerages

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have been given a consensus recommendation of “Moderate Buy” by the twenty ratings firms that are currently covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $682.4118.

Several analysts have weighed in on MLM shares. Morgan Stanley cut their price objective on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a research report on Monday, April 6th. Raymond James Financial restated an “outperform” rating on shares of Martin Marietta Materials in a research note on Monday, June 29th. Wall Street Zen upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. Barclays reduced their price target on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Finally, Oppenheimer started coverage on Martin Marietta Materials in a research report on Thursday, May 28th. They set a “market perform” rating for the company.

Institutional Investors Weigh In On Martin Marietta Materials

Hedge funds have recently bought and sold shares of the business. Whitener Capital Management Inc. increased its stake in shares of Martin Marietta Materials by 7.3% during the second quarter. Whitener Capital Management Inc. now owns 3,175 shares of the construction company’s stock valued at $1,831,000 after purchasing an additional 215 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of Martin Marietta Materials by 18.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 37,395 shares of the construction company’s stock worth $21,566,000 after buying an additional 5,780 shares during the last quarter. Paladin Wealth LLC increased its position in Martin Marietta Materials by 19.0% during the 2nd quarter. Paladin Wealth LLC now owns 1,286 shares of the construction company’s stock valued at $742,000 after buying an additional 205 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in Martin Marietta Materials during the 2nd quarter valued at approximately $430,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake in Martin Marietta Materials by 69.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 805 shares of the construction company’s stock valued at $464,000 after buying an additional 329 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 1.1%

Martin Marietta Materials stock traded up $6.10 during mid-day trading on Monday, reaching $578.00. 450,995 shares of the company traded hands, compared to its average volume of 628,951. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. Martin Marietta Materials has a 52-week low of $525.38 and a 52-week high of $710.97. The firm has a market capitalization of $34.71 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 2.43 and a beta of 1.10. The firm’s 50 day moving average price is $581.94 and its 200 day moving average price is $615.35.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm posted $1.90 EPS. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. On average, analysts anticipate that Martin Marietta Materials will post 19.38 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 7.91%.

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.