Martin Marietta Materials (NYSE:MLM) Given New $737.00 Price Target at The Goldman Sachs Group

Martin Marietta Materials (NYSE:MLM) had its price objective raised by The Goldman Sachs Group from $642.00 to $737.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

A number of other research analysts have also recently issued reports on MLM. Stephens increased their target price on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the company an overweight rating in a report on Friday, February 16th. Wolfe Research cut shares of Martin Marietta Materials from an outperform rating to a peer perform rating in a report on Friday, March 8th. Truist Financial increased their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a buy rating in a report on Tuesday, April 2nd. Morgan Stanley started coverage on shares of Martin Marietta Materials in a research report on Monday, January 8th. They issued an overweight rating and a $595.00 price target on the stock. Finally, JPMorgan Chase & Co. reiterated a neutral rating and issued a $600.00 price target (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials presently has an average rating of Moderate Buy and a consensus price target of $588.69.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $594.59 on Tuesday. The stock has a market capitalization of $36.76 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 2.94 and a beta of 0.96. Martin Marietta Materials has a one year low of $343.79 and a one year high of $626.67. The company has a 50-day simple moving average of $582.21 and a 200-day simple moving average of $506.31. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.50 and a current ratio of 3.35.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.67. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.04 earnings per share. On average, analysts predict that Martin Marietta Materials will post 21.09 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were given a dividend of $0.74 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a yield of 0.50%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 15.72%.

Insider Buying and Selling

In related news, Director Sue W. Cole sold 1,724 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the sale, the director now owns 19,793 shares in the company, valued at $10,757,099.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Martin Marietta Materials news, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total value of $936,959.52. Following the transaction, the director now owns 19,793 shares in the company, valued at approximately $10,757,099.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of Martin Marietta Materials stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the completion of the transaction, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,724 shares of company stock worth $16,033,760. 0.59% of the stock is owned by insiders.

Hedge Funds Weigh In On Martin Marietta Materials

Hedge funds have recently made changes to their positions in the business. Atwater Malick LLC purchased a new stake in Martin Marietta Materials during the 1st quarter worth $236,000. Cypress Wealth Services LLC acquired a new position in Martin Marietta Materials during the 1st quarter worth $244,000. Dohj LLC acquired a new position in Martin Marietta Materials during the 1st quarter worth $933,000. 180 Wealth Advisors LLC acquired a new position in Martin Marietta Materials during the 1st quarter worth $670,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Martin Marietta Materials by 18.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,722 shares of the construction company’s stock valued at $3,513,000 after buying an additional 881 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

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.