Martin Marietta Materials, Inc. (NYSE:MLM) Receives $634.36 Average PT from Brokerages

Martin Marietta Materials, Inc. (NYSE:MLM) has been assigned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $628.64.

A number of research firms have weighed in on MLM. BNP Paribas cut shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective for the company in a research note on Wednesday, December 11th. Raymond James cut their target price on Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Loop Capital decreased their price target on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Morgan Stanley cut their price target on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th.

Insider Activity

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the transaction, the executive vice president now owns 3,523 shares in the company, valued at approximately $1,673,425. The trade was a 27.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michael J. Petro purchased 550 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the acquisition, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Martin Marietta Materials

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. 111 Capital bought a new position in shares of Martin Marietta Materials in the fourth quarter valued at approximately $221,000. Wealth Enhancement Advisory Services LLC boosted its stake in Martin Marietta Materials by 6.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,654 shares of the construction company’s stock valued at $1,887,000 after purchasing an additional 227 shares in the last quarter. NorthCrest Asset Manangement LLC increased its position in shares of Martin Marietta Materials by 1.0% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 28,559 shares of the construction company’s stock valued at $14,751,000 after purchasing an additional 271 shares during the period. Siemens Fonds Invest GmbH raised its stake in shares of Martin Marietta Materials by 14.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 1,508 shares of the construction company’s stock worth $785,000 after buying an additional 195 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at $13,501,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM opened at $483.84 on Tuesday. The business’s 50-day simple moving average is $511.89 and its 200 day simple moving average is $539.58. The company has a market cap of $29.50 billion, a P/E ratio of 14.97, a PEG ratio of 4.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. Martin Marietta Materials has a one year low of $448.50 and a one year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. On average, sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.65%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is presently 9.77%.

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.