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

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have been assigned a consensus recommendation of “Buy” from the sixteen brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $648.71.

A number of research analysts have weighed in on the company. Citigroup lowered their target price on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Barclays increased their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. UBS Group began coverage on Martin Marietta Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective on the stock. Loop Capital increased their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price on the stock in a report on Wednesday, December 11th.

Martin Marietta Materials Stock Down 0.1 %

NYSE:MLM opened at $548.40 on Monday. Martin Marietta Materials has a 1-year low of $490.05 and a 1-year high of $633.23. The company has a market capitalization of $33.52 billion, a PE ratio of 17.09, a P/E/G ratio of 3.21 and a beta of 0.91. The firm’s 50-day moving average price is $550.81 and its 200-day moving average price is $551.56. 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 issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the business earned $6.94 earnings per share. Martin Marietta Materials’s revenue was down 5.3% compared to the same quarter last year. On average, equities analysts predict that Martin Marietta Materials will post 17.57 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.58%. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Newbridge Financial Services Group Inc. grew its position in Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after acquiring an additional 37 shares during the last quarter. Asset Dedication LLC lifted its holdings in Martin Marietta Materials by 1,300.0% during 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 in the last quarter. First Personal Financial Services bought a new stake in Martin Marietta Materials during the 3rd quarter valued at about $33,000. R Squared Ltd purchased a new stake in Martin Marietta Materials in the 4th quarter valued at about $41,000. Finally, Retirement Wealth Solutions LLC bought a new position in Martin Marietta Materials in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

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.