Martin Marietta Materials (NYSE:MLM) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Martin Marietta Materials (NYSE:MLM) had its target price increased by Stifel Nicolaus from $559.00 to $609.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. lowered Martin Marietta Materials from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. Citigroup reduced their price objective on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Seaport Res Ptn raised shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Wolfe Research upgraded 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average target price of $603.23.

Martin Marietta Materials Trading Up 2.6 %

Martin Marietta Materials stock opened at $536.61 on Thursday. Martin Marietta Materials has a one year low of $441.95 and a one year high of $633.23. The stock has a market cap of $32.52 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. 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 50-day moving average of $485.33 and a two-hundred day moving average of $530.36.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the business earned $1.93 EPS. Martin Marietta Materials’s revenue for the quarter was up 8.2% on a year-over-year basis. 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 announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

Insider Buying and Selling

In related news, SVP Michael J. Petro bought 550 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the purchase, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the transaction, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Martin Marietta Materials

Several large investors have recently bought and sold shares of MLM. Checchi Capital Advisers LLC raised its position in Martin Marietta Materials by 1.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock valued at $690,000 after purchasing an additional 19 shares during the period. OneDigital Investment Advisors LLC boosted its position in shares of Martin Marietta Materials by 1.9% during the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company’s stock worth $527,000 after buying an additional 19 shares during the period. Brooklyn Investment Group grew its stake in shares of Martin Marietta Materials by 4.7% in the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock valued at $231,000 after buying an additional 20 shares in the last quarter. OLD National Bancorp IN raised its holdings in shares of Martin Marietta Materials by 4.5% in the 4th quarter. OLD National Bancorp IN now owns 483 shares of the construction company’s stock valued at $249,000 after buying an additional 21 shares during the period. Finally, Signaturefd LLC lifted its stake in Martin Marietta Materials by 2.6% during the 4th quarter. Signaturefd LLC now owns 835 shares of the construction company’s stock worth $431,000 after acquiring an additional 21 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

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.