Martin Marietta Materials, Inc. (NYSE:MLM) Receives $634.36 Consensus Price Target from Analysts

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have received an average rating of “Moderate Buy” from the sixteen research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $628.64.

MLM has been the topic of a number of analyst reports. BNP Paribas cut Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Raymond James dropped their target price on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Loop Capital cut their price target on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective for the company in a research note on Wednesday, January 8th. Finally, HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price on the stock in a research note on Wednesday, December 11th.

Insiders Place Their Bets

In related news, SVP Michael J. Petro acquired 550 shares of the stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the transaction, the senior vice president now owns 8,985 shares of the company’s stock, valued at $4,082,514.45. The trade was a 6.52 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the sale, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Martin Marietta Materials

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lee Danner & Bass Inc. bought a new position in Martin Marietta Materials in the fourth quarter valued at about $28,000. Whipplewood Advisors LLC acquired a new position in Martin Marietta Materials during the 4th quarter valued at about $32,000. Kestra Investment Management LLC bought a new position in shares of Martin Marietta Materials in the 4th quarter valued at about $35,000. Hopwood Financial Services Inc. acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Martin Marietta Materials by 91.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock worth $37,000 after buying an additional 34 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Down 1.3 %

Shares of NYSE:MLM opened at $483.84 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The stock has a market capitalization of $29.50 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 4.45 and a beta of 0.89. Martin Marietta Materials has a 1-year low of $448.50 and a 1-year high of $633.23. The company has a 50 day moving average price of $511.89 and a 200 day moving average price of $539.58.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. On average, research analysts anticipate that Martin Marietta Materials will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.65%. Martin Marietta Materials’s payout ratio is presently 9.77%.

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.