Brokerages Set Martin Marietta Materials, Inc. (NYSE:MLM) Target Price at $603.86

Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seventeen analysts that are covering the company, Marketbeat Ratings reports. Three investment 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 1-year price objective among analysts that have updated their coverage on the stock in the last year is $603.86.

Several equities research analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Loop Capital lowered their target price on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $640.00 to $560.00 in a report on Wednesday, March 19th. Royal Bank Of Canada assumed coverage on Martin Marietta Materials in a research report on Monday, June 16th. They set a "sector perform" rating and a $515.00 price target for the company. Finally, Raymond James Financial lowered their price target 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.

Hedge Funds Weigh In On Martin Marietta Materials

Institutional investors and hedge funds have recently modified their holdings of the stock. Sunbeam Capital Management LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $235,000. Waverly Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 78.9% during the fourth quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock worth $538,000 after acquiring an additional 459 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Martin Marietta Materials by 23.0% during the first quarter. Exchange Traded Concepts LLC now owns 454 shares of the construction company's stock worth $217,000 after acquiring an additional 85 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Martin Marietta Materials by 64.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,028 shares of the construction company's stock valued at $1,047,000 after purchasing an additional 796 shares during the period. Finally, Fifth Third Bancorp grew its position in shares of Martin Marietta Materials by 5.0% during the 1st quarter. Fifth Third Bancorp now owns 7,357 shares of the construction company's stock worth $3,518,000 after purchasing an additional 352 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Up 1.8%

NYSE MLM traded up $9.68 during trading on Thursday, hitting $550.34. The stock had a trading volume of 448,679 shares, compared to its average volume of 485,247. Martin Marietta Materials has a 12 month low of $441.95 and a 12 month high of $633.23. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 2.25. The company's 50-day moving average price is $539.84 and its two-hundred day moving average price is $520.01. The company has a market capitalization of $33.17 billion, a PE ratio of 31.70, a P/E/G ratio of 4.90 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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 revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $1.93 earnings per share. As a group, sell-side analysts forecast that Martin Marietta Materials will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm 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. This represents a $3.16 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Monday, June 2nd. Martin Marietta Materials's dividend payout ratio is 18.20%.

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.