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

Martin Marietta Materials, Inc. (NYSE:MLM) has earned an average recommendation of “Buy” from the sixteen research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $639.43.

MLM has been the topic of several recent analyst reports. Loop Capital lowered their price target on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective on the stock in a research note on Wednesday, January 8th. Stephens cut their target price on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Finally, Truist Financial lowered their price target on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th.

Martin Marietta Materials Price Performance

Shares of MLM opened at $505.47 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The firm has a market capitalization of $30.89 billion, a PE ratio of 15.63, a P/E/G ratio of 4.69 and a beta of 0.91. The stock has a 50 day simple moving average of $531.34 and a 200 day simple moving average of $547.49. Martin Marietta Materials has a 52-week low of $482.72 and a 52-week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Sell-side analysts predict that Martin Marietta Materials will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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 dividend on an annualized basis and a yield of 0.63%. Martin Marietta Materials’s dividend payout ratio is currently 9.77%.

Hedge Funds Weigh In On Martin Marietta Materials

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Lee Danner & Bass Inc. bought a new position in shares of Martin Marietta Materials during the fourth quarter valued at $28,000. Whipplewood Advisors LLC bought a new position in Martin Marietta Materials during the 4th quarter worth $32,000. First Personal Financial Services bought a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at about $33,000. Kestra Investment Management LLC acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $35,000. Finally, Hopwood Financial Services Inc. bought a new position in shares of Martin Marietta Materials during the fourth quarter worth about $36,000. Institutional investors and hedge funds 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.