Brokerages Set Martin Marietta Materials, Inc. (NYSE:MLM) Target Price at $629.82

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $629.82.

A number of equities analysts have issued reports on MLM shares. BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Stephens reduced their price objective on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Loop Capital dropped their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Stifel Nicolaus reduced their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, Jefferies Financial Group lifted their price target on Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th.

Martin Marietta Materials Trading Down 0.2 %

MLM opened at $538.25 on Tuesday. Martin Marietta Materials has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The firm has a market capitalization of $33.18 billion, a PE ratio of 15.80, a P/E/G ratio of 3.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. The company’s 50-day moving average is $538.34 and its 200 day moving average is $564.45.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.60). The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the company earned $5.60 earnings per share. As a group, research analysts predict that Martin Marietta Materials will post 19.33 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 Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a yield of 0.59%. Martin Marietta Materials’s dividend payout ratio is 9.36%.

Institutional Trading of Martin Marietta Materials

A number of institutional investors have recently modified their holdings of MLM. Ameritas Advisory Services LLC boosted its holdings in shares of Martin Marietta Materials by 2.8% in the second quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock worth $360,000 after acquiring an additional 18 shares during the period. Mather Group LLC. grew its stake in Martin Marietta Materials by 13.6% during the second quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after acquiring an additional 20 shares in the last quarter. TFG Advisers LLC increased its holdings in Martin Marietta Materials by 3.7% during the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock worth $300,000 after acquiring an additional 20 shares during the period. Meiji Yasuda Life Insurance Co boosted its holdings in Martin Marietta Materials by 3.0% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock valued at $368,000 after purchasing an additional 20 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of Martin Marietta Materials by 1.8% during the 4th quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock valued at $584,000 after purchasing an additional 21 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

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.