Brokerages Set Martin Marietta Materials, Inc. (NYSE:MLM) Target Price at $650.31

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have received a consensus recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $650.3125.

A number of equities research analysts recently weighed in on MLM shares. Morgan Stanley boosted their price target on shares of Martin Marietta Materials from $610.00 to $660.00 and gave the company an “overweight” rating in a research report on Monday, December 1st. Stifel Nicolaus upped their target price on Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Barclays raised their price target on Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Wells Fargo & Company reduced their price objective on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Finally, DA Davidson set a $690.00 target price on shares of Martin Marietta Materials in a research report on Thursday, November 6th.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $633.79 on Thursday. The company has a market capitalization of $38.22 billion, a price-to-earnings ratio of 33.41 and a beta of 1.16. Martin Marietta Materials has a 52-week low of $441.95 and a 52-week high of $665.18. The company has a quick ratio of 2.07, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average price of $618.59 and a 200 day moving average price of $599.18.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%.The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.06 billion. Research analysts predict that Martin Marietta Materials will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, December 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 17.50%.

Institutional Investors Weigh In On Martin Marietta Materials

Several hedge funds have recently made changes to their positions in the business. Quent Capital LLC purchased a new stake in Martin Marietta Materials during the 3rd quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Martin Marietta Materials in the 3rd quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials in the third quarter valued at approximately $32,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the second quarter worth approximately $28,000. Finally, Grey Fox Wealth Advisors LLC acquired a new stake in shares of Martin Marietta Materials during the third quarter worth $33,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.