Martin Marietta Materials (NYSE:MLM) Given New $680.00 Price Target at Loop Capital

Martin Marietta Materials (NYSE:MLM) had its price target hoisted by Loop Capital from $600.00 to $680.00 in a research report released on Thursday, Benzinga reports. Loop Capital currently has a buy rating on the construction company’s stock.

A number of other equities analysts have also recently commented on MLM. BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Citigroup decreased their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Truist Financial decreased their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. decreased their target price on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Morgan Stanley boosted their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $626.92.

Martin Marietta Materials Stock Down 0.8 %

MLM stock traded down $4.62 during midday trading on Thursday, reaching $587.72. 70,257 shares of the company were exchanged, compared to its average volume of 442,791. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.94 and a current ratio of 2.34. Martin Marietta Materials has a 1-year low of $438.53 and a 1-year high of $626.67. The stock’s 50-day simple moving average is $540.91 and its 200 day simple moving average is $556.38. The company has a market cap of $35.92 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 5.11 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business’s revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.94 earnings per share. On average, equities analysts forecast that Martin Marietta Materials will post 18.61 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a $0.79 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date was Tuesday, September 3rd. This represents a $3.16 annualized dividend and a yield of 0.54%. Martin Marietta Materials’s payout ratio is presently 9.85%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in shares of Martin Marietta Materials by 182.5% during the 1st quarter. BNP Paribas Financial Markets now owns 73,135 shares of the construction company’s stock valued at $44,901,000 after acquiring an additional 47,250 shares during the last quarter. Peak Financial Advisors LLC acquired a new position in shares of Martin Marietta Materials during the 2nd quarter valued at about $2,710,000. TD Asset Management Inc increased its stake in shares of Martin Marietta Materials by 4.4% during the 1st quarter. TD Asset Management Inc now owns 147,963 shares of the construction company’s stock valued at $90,840,000 after acquiring an additional 6,263 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Martin Marietta Materials by 8.1% during the 1st quarter. Russell Investments Group Ltd. now owns 74,259 shares of the construction company’s stock valued at $45,545,000 after acquiring an additional 5,576 shares during the last quarter. Finally, M&G Plc acquired a new position in shares of Martin Marietta Materials during the 1st quarter valued at about $41,142,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.