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

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have been assigned a consensus recommendation of “Moderate Buy” from the twenty brokerages that are currently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $682.4118.

Several brokerages recently issued reports on MLM. Barclays cut their price target on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. B. Riley Financial upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective for the company in a research note on Thursday, April 2nd. UBS Group set a $739.00 target price on Martin Marietta Materials in a research report on Sunday, May 10th. Truist Financial raised their target price on Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Berenberg Bank set a $556.00 price target on shares of Martin Marietta Materials and gave the company a “hold” rating in a report on Tuesday, June 2nd.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $578.00 on Monday. The company has a market cap of $34.71 billion, a PE ratio of 13.78, a P/E/G ratio of 2.46 and a beta of 1.10. Martin Marietta Materials has a fifty-two week low of $525.38 and a fifty-two week high of $710.97. The firm has a 50-day simple moving average of $581.94 and a 200 day simple moving average of $615.23. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company posted $1.90 earnings per share. Martin Marietta Materials’s revenue was up 17.2% on a year-over-year basis. On average, sell-side analysts anticipate that Martin Marietta Materials will post 19.38 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 7.91%.

Institutional Investors Weigh In On Martin Marietta Materials

Several institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC increased its stake in shares of Martin Marietta Materials by 6.6% during the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock valued at $379,000 after acquiring an additional 49 shares during the period. Empowered Funds LLC lifted its position 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 worth $673,000 after purchasing an additional 144 shares during the period. Sivia Capital Partners LLC boosted its stake in Martin Marietta Materials by 11.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock valued at $280,000 after purchasing an additional 51 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Martin Marietta Materials by 205.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock valued at $143,000 after purchasing an additional 175 shares in the last quarter. Finally, Cresset Asset Management LLC raised its stake in shares of 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. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.