Martin Marietta Materials, Inc. (NYSE:MLM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have earned an average recommendation of “Moderate Buy” from the twenty ratings firms that are currently covering the company, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $681.9412.

A number of brokerages recently commented on MLM. Oppenheimer began coverage on shares of Martin Marietta Materials in a research note on Thursday, May 28th. They set a “market perform” rating for the company. Citigroup lowered their target price on shares of Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Berenberg Bank set a $556.00 target price on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research note on Tuesday, June 2nd. Jefferies Financial Group restated a “buy” rating and issued a $785.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Finally, DA Davidson set a $680.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 12th.

Martin Marietta Materials Stock Down 3.2%

Martin Marietta Materials stock opened at $553.97 on Thursday. Martin Marietta Materials has a twelve month low of $525.38 and a twelve month high of $710.97. The stock’s fifty day simple moving average is $590.42 and its 200-day simple moving average is $619.45. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $33.27 billion, a P/E ratio of 13.20, a P/E/G ratio of 2.43 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company earned $1.90 earnings per share. The company’s revenue was up 17.2% on a year-over-year basis. As a group, equities analysts expect that Martin Marietta Materials will post 19.41 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, June 1st. Martin Marietta Materials’s dividend payout ratio is currently 7.91%.

Institutional Investors Weigh In On Martin Marietta Materials

Several hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC raised its holdings in Martin Marietta Materials by 6.6% during the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after purchasing an additional 49 shares in the last quarter. Empowered Funds LLC raised its holdings in Martin Marietta Materials by 11.4% during the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock worth $673,000 after purchasing an additional 144 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Martin Marietta Materials by 11.1% during the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock worth $280,000 after purchasing an additional 51 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Martin Marietta Materials by 205.9% during the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock worth $143,000 after purchasing an additional 175 shares in the last quarter. Finally, Cresset Asset Management LLC raised its holdings in Martin Marietta Materials by 22.6% during the second quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock worth $427,000 after purchasing an additional 143 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.