Martin Marietta Materials, Inc. (NYSE:MLM) Receives $588.69 Consensus Target Price from Analysts

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $588.69.

MLM has been the subject of a number of research reports. Raymond James lifted their price objective on Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Citigroup lifted their price target on Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a report on Friday, April 5th. The Goldman Sachs Group increased their price objective on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Stephens lifted their target price on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Finally, StockNews.com upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating in a research note on Wednesday.

Martin Marietta Materials Trading Up 0.1 %

NYSE:MLM opened at $590.68 on Friday. The stock’s 50-day moving average is $598.46 and its two-hundred day moving average is $521.59. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.50. The stock has a market cap of $36.41 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 2.83 and a beta of 0.95. Martin Marietta Materials has a fifty-two week low of $384.61 and a fifty-two week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.05. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.16 EPS. As a group, equities research analysts forecast that Martin Marietta Materials will post 21.47 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 8.77%.

Insider Transactions at Martin Marietta Materials

In related news, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the completion of the sale, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the sale, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the transaction, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,724 shares of company stock worth $16,033,760. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Martin Marietta Materials

Several hedge funds have recently made changes to their positions in the stock. Schear Investment Advisers LLC lifted its position in shares of Martin Marietta Materials by 1.2% in the 4th quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock worth $822,000 after acquiring an additional 20 shares during the period. Parallel Advisors LLC lifted its position in Martin Marietta Materials by 1.8% in the fourth quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock worth $584,000 after purchasing an additional 21 shares during the period. Independence Bank of Kentucky boosted its stake in Martin Marietta Materials by 16.9% during the fourth quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock worth $76,000 after buying an additional 22 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Martin Marietta Materials by 5.0% in the 4th quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock valued at $228,000 after buying an additional 22 shares during the period. Finally, Spire Wealth Management raised its stake in shares of Martin Marietta Materials by 2.8% in the 1st quarter. Spire Wealth Management now owns 810 shares of the construction company’s stock valued at $497,000 after buying an additional 22 shares in the last quarter. Institutional investors 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.