Analysts Set Martin Marietta Materials, Inc. (NYSE:MLM) Target Price at $668.67

Martin Marietta Materials, Inc. (NYSE:MLM) has been given a consensus recommendation of “Moderate Buy” by the seventeen research firms that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $668.6667.

Several equities analysts have issued reports on MLM shares. Stifel Nicolaus upped their target price on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Wells Fargo & Company decreased their target price on shares of Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Raymond James Financial raised their price target on Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Morgan Stanley boosted their price target on Martin Marietta Materials from $660.00 to $690.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Finally, UBS Group boosted their target price on shares of Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research report on Friday, November 7th.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $637.79 on Monday. The company has a quick ratio of 2.07, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average price is $624.53 and its 200-day moving average price is $611.11. Martin Marietta Materials has a 52 week low of $441.95 and a 52 week high of $668.83. The stock has a market cap of $38.47 billion, a P/E ratio of 33.62 and a beta of 1.15.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing the consensus estimate of $6.62 by ($0.65). The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $2.06 billion. Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%. Equities research analysts anticipate that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were paid a $0.83 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is 17.50%.

Institutional Investors Weigh In On Martin Marietta Materials

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Martin Marietta Materials by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock valued at $4,691,139,000 after purchasing an additional 93,595 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Martin Marietta Materials by 0.4% in the second quarter. JPMorgan Chase & Co. now owns 2,955,139 shares of the construction company’s stock worth $1,622,254,000 after acquiring an additional 10,445 shares during the period. State Street Corp raised its stake in Martin Marietta Materials by 2.0% during the 2nd quarter. State Street Corp now owns 2,825,325 shares of the construction company’s stock valued at $1,550,990,000 after purchasing an additional 56,353 shares during the period. Bank of America Corp DE boosted its stake in Martin Marietta Materials by 1.1% in the 3rd quarter. Bank of America Corp DE now owns 2,365,832 shares of the construction company’s stock worth $1,491,136,000 after purchasing an additional 25,155 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Martin Marietta Materials by 9.6% during the third quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock valued at $1,389,428,000 after buying an additional 192,637 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Company Profile

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.