Martin Marietta Materials, Inc. (NYSE:MLM) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Martin Marietta Materials, with 10 buy ratings and nine holds. The average 12-month price target is $665.29, although recent target changes were mixed.
• Shares opened at $532.96, below their 50-day and 200-day moving averages, while trading near the lower end of their 52-week range of $522.19 to $710.97.
• The company exceeded quarterly expectations, reporting $5.00 in EPS and $1.95 billion in revenue, up 21% year over year. It also raised its quarterly dividend to $0.84 per share, equal to a 0.6% annualized yield.

Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) has been given an average rating of "Moderate Buy" by the nineteen research firms that are covering the company, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $665.2941.

A number of equities analysts have recently issued reports on the company. Wall Street Zen cut Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Tuesday, July 28th. DA Davidson set a $625.00 price objective on Martin Marietta Materials in a report on Monday. Royal Bank Of Canada cut their target price on Martin Marietta Materials from $615.00 to $610.00 and set a "sector perform" rating for the company in a research note on Monday, August 3rd. Citigroup cut their target price on Martin Marietta Materials from $737.00 to $690.00 and set a "buy" rating for the company in a research note on Monday, August 3rd. Finally, Truist Financial increased their price target on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a "buy" rating in a research report on Monday, May 4th.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $532.96 on Tuesday. The company's fifty day moving average price is $568.55 and its 200-day moving average price is $594.70. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73. The firm has a market capitalization of $32.01 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 2.31 and a beta of 1.11. Martin Marietta Materials has a one year low of $522.19 and a one year high of $710.97.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.76 by $0.24. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The firm's revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.43 EPS. On average, equities research analysts anticipate that Martin Marietta Materials will post 19.07 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be paid a $0.84 dividend. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.6%. Martin Marietta Materials's dividend payout ratio is currently 8.16%.

Hedge Funds Weigh In On Martin Marietta Materials

Large investors have recently added to or reduced their stakes in the business. Lido Advisors LLC boosted its position in Martin Marietta Materials by 0.8% during the fourth quarter. Lido Advisors LLC now owns 1,920 shares of the construction company's stock valued at $1,209,000 after buying an additional 15 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in shares of Martin Marietta Materials by 3.9% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company's stock worth $264,000 after buying an additional 16 shares during the period. Harbour Investments Inc. increased its holdings in shares of Martin Marietta Materials by 31.4% in the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company's stock worth $42,000 after buying an additional 16 shares during the period. AMG National Trust Bank increased its holdings in shares of Martin Marietta Materials by 3.6% in the first quarter. AMG National Trust Bank now owns 495 shares of the construction company's stock worth $291,000 after buying an additional 17 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in shares of Martin Marietta Materials by 0.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company's stock valued at $1,361,000 after acquiring an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

About Martin Marietta Materials

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.

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