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

Martin Marietta Materials, Inc. (NYSE:MLM) has been given a consensus rating of “Moderate Buy” by the sixteen research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $653.08.

A number of research analysts recently weighed in on MLM shares. Jefferies Financial Group dropped their price objective on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Loop Capital upped their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target for the company in a report on Wednesday, December 11th. StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their target price for the company from $515.00 to $640.00 in a report on Wednesday, November 27th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in Martin Marietta Materials by 2.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,579 shares of the construction company’s stock worth $1,939,000 after buying an additional 98 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Martin Marietta Materials during the second quarter worth approximately $65,000. Rothschild Investment LLC acquired a new position in Martin Marietta Materials during the second quarter worth approximately $43,000. Commonwealth Equity Services LLC raised its stake in Martin Marietta Materials by 1.7% during the second quarter. Commonwealth Equity Services LLC now owns 8,264 shares of the construction company’s stock worth $4,478,000 after purchasing an additional 142 shares during the period. Finally, Summit Financial LLC boosted its holdings in shares of Martin Marietta Materials by 89.8% in the 2nd quarter. Summit Financial LLC now owns 685 shares of the construction company’s stock valued at $371,000 after purchasing an additional 324 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 0.7 %

MLM stock opened at $516.50 on Thursday. The stock has a market capitalization of $31.57 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 3.74 and a beta of 0.89. The company has a fifty day moving average of $573.26 and a 200-day moving average of $553.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. Martin Marietta Materials has a one year low of $479.67 and a one year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the business earned $6.94 EPS. Martin Marietta Materials’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, analysts expect that Martin Marietta Materials will post 17.58 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed 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. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Monday, December 2nd. Martin Marietta Materials’s payout ratio is currently 9.85%.

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.