Martin Marietta Materials (NYSE:MLM) Stock Price Target Raised at Wells Fargo & Company

Martin Marietta Materials (NYSE:MLM) had its price objective hoisted by Wells Fargo & Company from $579.00 to $589.00 in a report published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

MLM has been the subject of a number of other research reports. UBS Group lowered their price objective on Martin Marietta Materials from $715.00 to $662.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. Royal Bank Of Canada cut their price objective on Martin Marietta Materials from $620.00 to $530.00 and set a “sector perform” rating on the stock in a report on Friday, October 9th. Zacks Research cut shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. Sanford C. Bernstein lowered shares of Martin Marietta Materials to an “underweight” rating in a report on Wednesday, September 2nd. Finally, Raymond James Financial lowered their price target on Martin Marietta Materials from $660.00 to $640.00 and set an “outperform” rating for the company in a report on Friday, October 16th. Fifteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus price target of $642.55.

Martin Marietta Materials Price Performance

MLM stock opened at $527.22 on Thursday. Martin Marietta Materials has a 1 year low of $464.92 and a 1 year high of $710.97. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.73 and a current ratio of 1.63. The stock’s 50 day moving average price is $503.24 and its 200 day moving average price is $573.99. The firm has a market cap of $31.67 billion, a P/E ratio of 13.95, a PEG ratio of 2.89 and a beta of 1.02.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Wednesday, November 4th. The construction company reported $5.47 earnings per share for the quarter, missing the consensus estimate of $5.99 by ($0.52). The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Martin Marietta Materials had a return on equity of 7.96% and a net margin of 31.88%. The business’s quarterly revenue was up 28.3% on a year-over-year basis. During the same period in the previous year, the business posted $6.85 EPS. On average, sell-side analysts expect that Martin Marietta Materials will post 16.29 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.6%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date was Tuesday, September 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 8.89%.

Hedge Funds Weigh In On Martin Marietta Materials

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Martin Marietta Materials in the second quarter valued at approximately $2,706,134,000. Bank of America Corp DE lifted its position in Martin Marietta Materials by 0.9% in the 1st quarter. Bank of America Corp DE now owns 2,399,779 shares of the construction company’s stock valued at $1,412,702,000 after acquiring an additional 21,310 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Martin Marietta Materials by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 546,170 shares of the construction company’s stock worth $321,442,000 after purchasing an additional 5,764 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Martin Marietta Materials by 13.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 386,046 shares of the construction company’s stock worth $222,633,000 after buying an additional 46,228 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Martin Marietta Materials during the second quarter worth about $199,321,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials News Roundup

Here are the key news stories impacting Martin Marietta Materials this week:

• Positive Sentiment: Wells Fargo raised its price target to $589 from $579 and reiterated an “overweight” rating, signaling confidence in the shares. Wells Fargo rating update
• Positive Sentiment: Q3 revenue reached a record $2.37 billion, topping the $2.24 billion analyst estimate and rising 28.3% year over year. The company also reported record revenue and EBITDA, with acquisitions supporting aggregates volumes and Specialty growth. Q3 results and guidance
• Positive Sentiment: Martin Marietta raised its full-year 2026 revenue outlook, citing acquisition performance and growth in its businesses. Revenue outlook update
• Negative Sentiment: Reported EPS of $5.47 missed the broader analyst consensus of $5.99 and declined from $6.85 a year earlier. Although it topped Zacks’ lower $5.27 estimate, inflationary and margin pressures—and coverage of debt tied to the Lhoist acquisition—may have weighed on investor reaction. Q3 earnings analysis

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of construction materials serving the infrastructure, commercial, residential and industrial markets. The company’s primary business is aggregates, including crushed stone, sand and gravel used in roads, bridges, buildings and other construction projects.

Martin Marietta also produces cement, ready-mixed concrete and asphalt products, and provides paving and related construction services in selected markets. Through its Magnesia Specialties business, the company manufactures magnesium-based and dolomitic lime products used in industrial, environmental and agricultural applications.

Headquartered in Raleigh, North Carolina, Martin Marietta Materials became an independent publicly traded company in 1993 following a spin-off from Martin Marietta Corporation.