Stifel Nicolaus Increases Martin Marietta Materials (NYSE:MLM) Price Target to $650.00

Martin Marietta Materials (NYSE:MLM) had its target price increased by Stifel Nicolaus from $621.00 to $650.00 in a report released on Monday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the construction company’s stock.

Several other analysts have also recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Martin Marietta Materials from $560.00 to $642.00 and gave the company a buy rating in a research note on Friday, February 16th. Truist Financial lifted their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. StockNews.com cut shares of Martin Marietta Materials from a buy rating to a hold rating in a research report on Friday, February 9th. Raymond James lifted their target price on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Finally, Stephens lifted their target price on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the stock an overweight rating in a research report on Friday, February 16th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Martin Marietta Materials has an average rating of Moderate Buy and a consensus target price of $588.69.

Martin Marietta Materials Stock Down 1.0 %

Shares of NYSE MLM opened at $587.13 on Monday. The company has a quick ratio of 2.50, a current ratio of 3.35 and a debt-to-equity ratio of 0.49. Martin Marietta Materials has a 52 week low of $343.79 and a 52 week high of $626.67. The firm has a 50-day moving average price of $586.40 and a 200 day moving average price of $508.75. The stock has a market capitalization of $36.24 billion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 2.89 and a beta of 0.96.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 EPS for the quarter, beating the consensus estimate of $3.96 by $0.67. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the business earned $3.04 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities research analysts anticipate that Martin Marietta Materials will post 21.23 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio is presently 15.72%.

Insider Activity

In other news, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total value of $6,032,900.00. Following the completion of the transaction, the executive vice president now owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total value of $6,032,900.00. Following the completion of the transaction, the executive vice president now owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO C Howard Nye sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the completion of the transaction, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The disclosure for this sale can be found here. Insiders sold a total of 26,724 shares of company stock valued at $16,033,760 over the last 90 days. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Martin Marietta Materials

A number of institutional investors have recently bought and sold shares of the stock. Schear Investment Advisers LLC grew its holdings in Martin Marietta Materials by 1.2% in the fourth quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock valued at $822,000 after purchasing an additional 20 shares during the period. Parallel Advisors LLC grew its holdings in Martin Marietta Materials by 1.8% in the fourth quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock valued at $584,000 after purchasing an additional 21 shares during the period. Fayez Sarofim & Co grew its holdings in Martin Marietta Materials by 0.9% in the fourth quarter. Fayez Sarofim & Co now owns 2,335 shares of the construction company’s stock valued at $1,231,000 after purchasing an additional 21 shares during the period. Independence Bank of Kentucky grew its holdings in Martin Marietta Materials by 16.9% in the fourth quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock valued at $76,000 after purchasing an additional 22 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in Martin Marietta Materials by 5.0% in the fourth quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock valued at $228,000 after purchasing an additional 22 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

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.