Shares of Martin Marietta Materials, Inc. (NYSE:MLM – Get Free Report) have earned an average rating of “Moderate Buy” from the seventeen analysts that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $603.86.
Several brokerages recently issued reports on MLM. Loop Capital reduced their price objective on Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Seaport Res Ptn raised Martin Marietta Materials to a “strong-buy” rating in a research note on Friday, March 21st. UBS Group raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and increased their price objective for the company from $548.00 to $634.00 in a research note on Friday, May 16th. Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Finally, Raymond James Financial cut their target price on shares of Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th.
Read Our Latest Stock Analysis on Martin Marietta Materials
Martin Marietta Materials Stock Up 1.8%
Martin Marietta Materials (NYSE:MLM – Get Free Report) last issued its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Martin Marietta Materials had a net margin of 16.07% and a return on equity of 12.01%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $1.93 earnings per share. Equities research analysts anticipate that Martin Marietta Materials will post 19.53 EPS for the current fiscal year.
Martin Marietta Materials Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be paid a $0.79 dividend. The ex-dividend date is Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.57%. Martin Marietta Materials’s payout ratio is currently 18.20%.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Checchi Capital Advisers LLC increased its stake in Martin Marietta Materials by 1.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock valued at $690,000 after purchasing an additional 19 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in Martin Marietta Materials by 1.9% in the 4th quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company’s stock worth $527,000 after buying an additional 19 shares during the last quarter. Signaturefd LLC grew its holdings in Martin Marietta Materials by 2.6% in the 4th quarter. Signaturefd LLC now owns 835 shares of the construction company’s stock valued at $431,000 after buying an additional 21 shares during the period. Net Worth Advisory Group increased its stake in shares of Martin Marietta Materials by 2.2% during the 1st quarter. Net Worth Advisory Group now owns 993 shares of the construction company’s stock valued at $475,000 after acquiring an additional 21 shares during the last quarter. Finally, PDS Planning Inc lifted its holdings in shares of Martin Marietta Materials by 4.9% during the 1st quarter. PDS Planning Inc now owns 452 shares of the construction company’s stock worth $216,000 after acquiring an additional 21 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.
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