Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have earned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $229.67.

MLM has been the topic of a number of recent research reports. Citigroup Inc. initiated coverage on shares of Martin Marietta Materials in a research report on Wednesday, March 29th. They issued a “buy” rating and a $245.00 price target on the stock. Stifel Nicolaus lifted their price objective on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, May 3rd. Cleveland Research upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating in a research report on Friday, March 31st. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, April 18th. Finally, Stephens lifted their price objective on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, May 4th.

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In other Martin Marietta Materials news, SVP Donald A. Mccunniff sold 1,391 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $240.17, for a total transaction of $334,076.47. Following the sale, the senior vice president now directly owns 19,858 shares in the company, valued at approximately $4,769,295.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman C Howard Nye sold 10,258 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $239.16, for a total transaction of $2,453,303.28. Following the sale, the chairman now owns 143,038 shares in the company, valued at $34,208,968.08. The disclosure for this sale can be found here. Insiders have sold a total of 18,121 shares of company stock worth $4,332,440 over the last 90 days. 1.06% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Boys Arnold & Co. Inc. boosted its position in shares of Martin Marietta Materials by 18.5% in the first quarter. Boys Arnold & Co. Inc. now owns 3,260 shares of the construction company’s stock valued at $711,000 after buying an additional 510 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Martin Marietta Materials by 28.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,678 shares of the construction company’s stock valued at $1,021,000 after buying an additional 1,040 shares in the last quarter. Reliance Trust Co. of Delaware boosted its position in shares of Martin Marietta Materials by 19.5% in the first quarter. Reliance Trust Co. of Delaware now owns 3,475 shares of the construction company’s stock valued at $759,000 after buying an additional 568 shares in the last quarter. Heritage Investors Management Corp boosted its position in shares of Martin Marietta Materials by 3.9% in the first quarter. Heritage Investors Management Corp now owns 80,577 shares of the construction company’s stock valued at $17,586,000 after buying an additional 3,016 shares in the last quarter. Finally, Gulf International Bank UK Ltd boosted its position in shares of Martin Marietta Materials by 5.4% in the first quarter. Gulf International Bank UK Ltd now owns 19,425 shares of the construction company’s stock valued at $4,239,000 after buying an additional 1,000 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors.

Shares of Martin Marietta Materials (MLM) traded up 0.65% during midday trading on Friday, hitting $227.87. 146,056 shares of the stock were exchanged. Martin Marietta Materials has a 12-month low of $167.06 and a 12-month high of $244.32. The firm has a 50-day moving average price of $231.16 and a 200-day moving average price of $223.50. The company has a market cap of $14.31 billion, a PE ratio of 34.39 and a beta of 1.21.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, May 2nd. The construction company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.05. Martin Marietta Materials had a net margin of 10.91% and a return on equity of 10.32%. The company had revenue of $791.70 million for the quarter, compared to the consensus estimate of $729.28 million. During the same period last year, the firm posted $0.69 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts predict that Martin Marietta Materials will post $7.14 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 1st will be given a dividend of $0.42 per share. The ex-dividend date is Tuesday, May 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.74%. Martin Marietta Materials’s dividend payout ratio (DPR) is 25.42%.

About Martin Marietta Materials

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

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