Martin Marietta Materials, Inc. (NYSE:MLM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Martin Marietta Materials, Inc. (NYSE:MLM) has received an average rating of “Moderate Buy” from the twenty ratings firms that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $628.5625.

MLM has been the topic of a number of recent research reports. Barclays boosted their price objective 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. Royal Bank Of Canada reissued a “sector perform” rating and set a $525.00 price objective (up previously from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Wells Fargo & Company raised Martin Marietta Materials to a “hold” rating in a research note on Wednesday, October 8th. Wall Street Zen raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Bank of America boosted their price objective on Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th.

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $613.32, for a total transaction of $636,626.16. Following the completion of the transaction, the director directly owned 15,417 shares in the company, valued at approximately $9,455,554.44. This represents a 6.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. acquired a new position in Martin Marietta Materials in the third quarter valued at about $242,000. Vanguard Personalized Indexing Management LLC lifted its position in Martin Marietta Materials by 10.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 7,916 shares of the construction company’s stock valued at $5,001,000 after buying an additional 736 shares during the last quarter. Patron Partners LLC lifted its position in Martin Marietta Materials by 11.9% in the third quarter. Patron Partners LLC now owns 855 shares of the construction company’s stock valued at $539,000 after buying an additional 91 shares during the last quarter. LBP AM SA lifted its position in Martin Marietta Materials by 110.9% in the third quarter. LBP AM SA now owns 1,917 shares of the construction company’s stock valued at $1,208,000 after buying an additional 1,008 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Martin Marietta Materials by 4.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 6,759 shares of the construction company’s stock valued at $4,290,000 after buying an additional 295 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 0.2%

Shares of MLM opened at $614.13 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. Martin Marietta Materials has a one year low of $441.95 and a one year high of $665.18. The stock has a market capitalization of $37.04 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 5.57 and a beta of 1.01. The stock has a 50 day moving average price of $621.58 and a 200 day moving average price of $579.89.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.44 by ($0.01). The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. Equities research analysts forecast that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Tuesday, September 2nd. Martin Marietta Materials’s dividend payout ratio is presently 18.41%.

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.