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

Martin Marietta Materials, Inc. (NYSE:MLM) has received a consensus rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $665.8824.

Several research analysts have issued reports on the company. Citigroup dropped their target price on Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. DA Davidson initiated coverage on Martin Marietta Materials in a research report on Monday, August 24th. They set a “neutral” rating and a $625.00 price objective on the stock. Morgan Stanley dropped their target price on shares of Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Raymond James Financial set a $660.00 price objective on Martin Marietta Materials in a research report on Friday, July 31st. Finally, Weiss Ratings downgraded shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, August 17th.

Institutional Investors Weigh In On Martin Marietta Materials

Several large investors have recently modified their holdings of MLM. Integrated Wealth Concepts LLC grew its holdings in Martin Marietta Materials by 6.6% in the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock valued at $379,000 after purchasing an additional 49 shares during the last quarter. Empowered Funds LLC boosted its holdings in Martin Marietta Materials by 11.4% in the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after acquiring an additional 144 shares during the last quarter. Sivia Capital Partners LLC grew its stake in Martin Marietta Materials by 11.1% during the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock worth $280,000 after buying an additional 51 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Martin Marietta Materials by 205.9% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock worth $143,000 after buying an additional 175 shares during the period. Finally, Cresset Asset Management LLC lifted its holdings in Martin Marietta Materials by 22.6% in the 2nd quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock worth $427,000 after buying an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

MLM stock opened at $518.75 on Tuesday. Martin Marietta Materials has a 52-week low of $517.65 and a 52-week high of $710.97. The firm has a 50 day moving average price of $560.97 and a 200-day moving average price of $589.12. The firm has a market capitalization of $31.16 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 2.29 and a beta of 1.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.73 and a current ratio of 1.41.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, beating analysts’ consensus estimates of $4.76 by $0.24. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the business earned $5.43 EPS. Martin Marietta Materials’s revenue was up 21.0% compared to the same quarter last year. Equities research analysts forecast that Martin Marietta Materials will post 19.07 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be paid a $0.84 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Martin Marietta Materials’s payout ratio is presently 8.16%.

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.