Martin Marietta Materials (NYSE:MLM) Reaches New 12-Month High – Still a Buy?

Martin Marietta Materials, Inc. (NYSE:MLM) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $696.65 and last traded at $698.4650, with a volume of 51370 shares. The stock had previously closed at $690.00.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Raymond James Financial raised their target price on Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Citigroup lifted their target price on shares of Martin Marietta Materials from $754.00 to $758.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Martin Marietta Materials in a research note on Thursday, January 22nd. Morgan Stanley upped their price objective on Martin Marietta Materials from $660.00 to $690.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. Finally, UBS Group raised their target price on Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a report on Friday, November 7th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $676.63.

Martin Marietta Materials Price Performance

The company has a fifty day simple moving average of $640.15 and a 200 day simple moving average of $622.79. The stock has a market capitalization of $41.98 billion, a price-to-earnings ratio of 36.80 and a beta of 1.16. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.07 and a current ratio of 2.97.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, December 1st. Martin Marietta Materials’s dividend payout ratio is currently 17.50%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MLM. Optima Capital LLC bought a new position in Martin Marietta Materials in the 4th quarter valued at $25,000. Quent Capital LLC purchased a new stake in shares of Martin Marietta Materials in the third quarter worth $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Martin Marietta Materials in the third quarter worth $27,000. Redmont Wealth Advisors LLC bought a new stake in Martin Marietta Materials during the third quarter valued at $32,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Martin Marietta Materials during the second quarter worth about $28,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Company Profile

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.