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

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation 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.

Several equities research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Truist Financial cut their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. dropped their price objective on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Jefferies Financial Group reduced their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th.

Martin Marietta Materials Trading Down 1.5 %

Shares of MLM stock opened at $606.84 on Wednesday. Martin Marietta Materials has a 1-year low of $451.37 and a 1-year high of $633.23. The firm has a market cap of $37.09 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 4.14 and a beta of 0.90. The company has a 50-day moving average of $550.70 and a two-hundred day moving average of $556.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $6.94 EPS. On average, analysts predict that Martin Marietta Materials will post 17.84 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 0.52%. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Hedge Funds Weigh In On Martin Marietta Materials

Several hedge funds have recently made changes to their positions in MLM. Daiwa Securities Group Inc. grew its stake in Martin Marietta Materials by 2.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 16,164 shares of the construction company’s stock worth $8,700,000 after buying an additional 441 shares during the last quarter. Summit Trail Advisors LLC grew its position in shares of Martin Marietta Materials by 4.2% during the third quarter. Summit Trail Advisors LLC now owns 1,542 shares of the construction company’s stock worth $830,000 after acquiring an additional 62 shares during the last quarter. Larson Financial Group LLC purchased a new stake in Martin Marietta Materials in the 3rd quarter valued at $49,000. Swedbank AB boosted its stake in Martin Marietta Materials by 326.4% during the 3rd quarter. Swedbank AB now owns 3,492 shares of the construction company’s stock worth $1,880,000 after purchasing an additional 2,673 shares during the period. Finally, Mader & Shannon Wealth Management Inc. grew its position in Martin Marietta Materials by 57.1% during the 3rd quarter. Mader & Shannon Wealth Management Inc. now owns 11,500 shares of the construction company’s stock worth $6,190,000 after purchasing an additional 4,179 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

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.