Martin Marietta Materials, Inc. (NYSE:MLM) Given Average Rating of "Buy" by Brokerages

Shares of Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) have earned a consensus rating of "Buy" from the sixteen ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $610.69.

A number of equities analysts recently issued reports on the stock. Truist Financial lowered their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. UBS Group upgraded Martin Marietta Materials from a "neutral" rating to a "buy" rating and increased their price target for the company from $548.00 to $634.00 in a research note on Friday, May 16th. Raymond James reduced their price objective on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Finally, Stephens lowered their target price on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating for the company in a report on Thursday, February 13th.

Martin Marietta Materials Price Performance

Shares of MLM traded down $0.76 during midday trading on Friday, hitting $547.72. The company's stock had a trading volume of 653,644 shares, compared to its average volume of 489,419. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. Martin Marietta Materials has a one year low of $441.95 and a one year high of $633.23. The stock has a market capitalization of $33.02 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The company's fifty day simple moving average is $515.26 and its two-hundred day simple moving average is $524.82.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released 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 firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.36 billion. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.93 earnings per share. As a group, equities analysts expect that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.58%. Martin Marietta Materials's payout ratio is 18.20%.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the sale, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. The trade was a 27.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Petro purchased 550 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the purchase, the senior vice president now owns 8,985 shares of the company's stock, valued at approximately $4,082,514.45. This trade represents a 6.52% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.69% of the company's stock.

Institutional Trading of Martin Marietta Materials

Large investors have recently modified their holdings of the stock. Checchi Capital Advisers LLC boosted its stake in Martin Marietta Materials by 1.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock worth $690,000 after acquiring an additional 19 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of Martin Marietta Materials by 1.9% during the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock valued at $527,000 after purchasing an additional 19 shares during the period. OLD National Bancorp IN boosted its position in shares of Martin Marietta Materials by 4.5% during the 4th quarter. OLD National Bancorp IN now owns 483 shares of the construction company's stock worth $249,000 after purchasing an additional 21 shares in the last quarter. Signaturefd LLC boosted its position in shares of Martin Marietta Materials by 2.6% during the 4th quarter. Signaturefd LLC now owns 835 shares of the construction company's stock worth $431,000 after purchasing an additional 21 shares in the last quarter. Finally, Net Worth Advisory Group grew its stake in shares of Martin Marietta Materials by 2.2% in the 1st quarter. Net Worth Advisory Group now owns 993 shares of the construction company's stock valued at $475,000 after buying an additional 21 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

About Martin Marietta Materials

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.