Martin Marietta Materials, Inc. (NYSE:MLM) Given Consensus Rating of “Moderate Buy” by Analysts

Martin Marietta Materials, Inc. (NYSE:MLM) has received an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $634.85.

A number of equities research analysts have recently commented on MLM shares. Citigroup lowered their price objective on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Barclays lifted their price target on Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Truist Financial lowered their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Loop Capital increased their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st.

Institutional Investors Weigh In On Martin Marietta Materials

Several institutional investors and hedge funds have recently modified their holdings of MLM. Ameritas Advisory Services LLC lifted its position in Martin Marietta Materials by 2.8% during the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock worth $360,000 after acquiring an additional 18 shares in the last quarter. Inspire Investing LLC lifted its position in shares of Martin Marietta Materials by 0.9% during the third quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock worth $1,144,000 after purchasing an additional 19 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Martin Marietta Materials by 2.5% in the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock valued at $421,000 after purchasing an additional 19 shares during the period. Mather Group LLC. grew its holdings in Martin Marietta Materials by 13.6% during the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after purchasing an additional 20 shares in the last quarter. Finally, TFG Advisers LLC grew its holdings in Martin Marietta Materials by 3.7% during the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $582.68 on Wednesday. The firm has a market cap of $35.61 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 3.90 and a beta of 0.90. Martin Marietta Materials has a 12-month low of $451.37 and a 12-month high of $633.23. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average is $559.08 and its two-hundred day moving average is $556.37.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The firm’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $6.94 EPS. Research analysts expect that Martin Marietta Materials will post 17.84 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

Martin Marietta Materials Company Profile

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.