Martin Marietta Materials (NYSE:MLM) Given New $630.00 Price Target at Stifel Nicolaus

Martin Marietta Materials (NYSE:MLM) had its price objective trimmed by Stifel Nicolaus from $650.00 to $630.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

MLM has been the subject of several other research reports. Citigroup upped their price target on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a buy rating in a research report on Friday, April 5th. JPMorgan Chase & Co. reiterated a neutral rating and issued a $600.00 target price (up previously from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. StockNews.com lowered Martin Marietta Materials from a buy rating to a hold rating in a research note on Thursday, May 9th. Truist Financial lifted their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. Finally, Wolfe Research lowered shares of Martin Marietta Materials from an outperform rating to a peer perform rating in a report on Friday, March 8th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $610.25.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $533.27 on Wednesday. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. The stock has a market cap of $32.87 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 2.40 and a beta of 0.91. Martin Marietta Materials has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The business has a fifty day moving average of $570.77 and a 200-day moving average of $557.62.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results 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. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the firm posted $2.16 EPS. Martin Marietta Materials’s revenue was down 7.6% on a year-over-year basis. As a group, analysts predict that Martin Marietta Materials will post 23.1 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 8.77%.

Hedge Funds Weigh In On Martin Marietta Materials

A number of hedge funds have recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Martin Marietta Materials in the 4th quarter worth approximately $25,000. Pinnacle Bancorp Inc. acquired a new position in Martin Marietta Materials in the fourth quarter worth $26,000. Riverview Trust Co bought a new stake in Martin Marietta Materials during the first quarter valued at $26,000. Exchange Traded Concepts LLC acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth $27,000. Finally, Benjamin Edwards Inc. boosted its holdings in shares of Martin Marietta Materials by 78.8% in the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after buying an additional 26 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

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.