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

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $619.36.

A number of analysts have issued reports on MLM shares. StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. Stephens lowered their price objective on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Citigroup dropped their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Morgan Stanley lifted their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th.

Hedge Funds Weigh In On Martin Marietta Materials

A number of large investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. lifted its position in shares of Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after purchasing an additional 37 shares during the last quarter. Riverview Trust Co bought a new stake in Martin Marietta Materials during the 1st quarter valued at about $26,000. Asset Dedication LLC boosted its position in Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares during the period. Redmont Wealth Advisors LLC bought a new position in Martin Marietta Materials in the 1st quarter worth about $31,000. Finally, Fortitude Family Office LLC increased its position in shares of Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after acquiring an additional 41 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 1.3 %

Martin Marietta Materials stock opened at $581.00 on Friday. Martin Marietta Materials has a 1 year low of $389.90 and a 1 year high of $626.67. The firm’s 50 day moving average price is $533.00 and its 200-day moving average price is $558.34. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. The stock has a market cap of $35.81 billion, a P/E ratio of 17.21, a PEG ratio of 3.68 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the firm posted $5.60 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. On average, equities analysts predict that Martin Marietta Materials will post 19.33 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.79 per share. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.36%.

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.