Martin Marietta Materials, Inc. (NYSE:MLM) Receives $648.71 Consensus Target Price from Brokerages

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have been given a consensus rating of “Buy” by the sixteen ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $648.71.

Several brokerages have issued reports on MLM. Citigroup dropped their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, January 6th. HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a research report on Wednesday, December 11th. Loop Capital lifted their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group dropped their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. 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 report on Wednesday, January 8th.

Martin Marietta Materials Trading Down 0.4 %

Shares of Martin Marietta Materials stock opened at $543.92 on Monday. Martin Marietta Materials has a 1 year low of $490.05 and a 1 year high of $633.23. The firm has a market cap of $33.24 billion, a PE ratio of 16.95, a PEG ratio of 4.57 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The company has a 50 day simple moving average of $546.41 and a two-hundred day simple moving average of $550.93.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Institutional Investors Weigh In On Martin Marietta Materials

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. increased its position in Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after purchasing an additional 37 shares during the period. Asset Dedication LLC increased its position in Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the period. First Personal Financial Services purchased a new position in Martin Marietta Materials during the 3rd quarter valued at $33,000. Kestra Investment Management LLC purchased a new position in Martin Marietta Materials during the 4th quarter valued at $35,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Martin Marietta Materials during the 4th quarter valued at $41,000. 95.04% of the stock is currently owned by 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.