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

Key Points

• Seventeen analysts give Martin Marietta an average recommendation of Moderate Buy (9 buy, 8 hold) with a 12‑month consensus price target of about $692.06.
• The company recently missed quarterly estimates—EPS $4.62 vs. $4.81 expected and revenue $1.53B vs. $1.66B—although revenue was up 9.3% year‑over‑year; shares trade around $615 with a market cap of $37.05B and a P/E of 32.7.
• Institutional investors own roughly 95.04% of the stock, and Martin Marietta pays a quarterly dividend of $0.83 (annualized $3.32, ~0.5% yield).

Shares of Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seventeen research firms that are covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $692.0625.

MLM has been the subject of a number of research reports. Royal Bank Of Canada reissued a "sector perform" rating and set a $630.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Citigroup upped their target price on Martin Marietta Materials from $780.00 to $804.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Weiss Ratings downgraded Martin Marietta Materials from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, February 23rd. Jefferies Financial Group reiterated a "buy" rating and set a $785.00 price target on shares of Martin Marietta Materials in a report on Thursday, February 26th. Finally, Loop Capital cut Martin Marietta Materials from a "buy" rating to a "hold" rating and set a $690.00 price target for the company. in a research note on Wednesday, January 28th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MLM. Atlantic Union Bankshares Corp raised its stake in shares of Martin Marietta Materials by 321.8% in the third quarter. Atlantic Union Bankshares Corp now owns 3,817 shares of the construction company's stock worth $2,406,000 after acquiring an additional 2,912 shares during the last quarter. National Pension Service lifted its position in shares of Martin Marietta Materials by 1.0% during the third quarter. National Pension Service now owns 84,820 shares of the construction company's stock worth $53,460,000 after purchasing an additional 843 shares in the last quarter. HB Wealth Management LLC grew its stake in shares of Martin Marietta Materials by 78.5% during the third quarter. HB Wealth Management LLC now owns 8,008 shares of the construction company's stock valued at $5,048,000 after purchasing an additional 3,522 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Martin Marietta Materials in the third quarter valued at approximately $1,605,000. Finally, Fenimore Asset Management Inc increased its holdings in shares of Martin Marietta Materials by 0.9% in the third quarter. Fenimore Asset Management Inc now owns 89,657 shares of the construction company's stock valued at $56,509,000 after purchasing an additional 807 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Stock Down 2.0%

Martin Marietta Materials stock opened at $614.88 on Wednesday. The firm has a market cap of $37.05 billion, a PE ratio of 32.71, a P/E/G ratio of 2.26 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.36 and a current ratio of 3.57. The firm's 50 day moving average price is $622.95 and its two-hundred day moving average price is $628.95. Martin Marietta Materials has a twelve month low of $484.96 and a twelve month high of $710.97.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.81 by ($0.19). Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the business earned $4.79 EPS. The company's quarterly revenue was up 9.3% on a year-over-year basis. On average, research analysts predict that Martin Marietta Materials will post 19.85 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd were paid a $0.83 dividend. The ex-dividend date was Monday, March 2nd. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials's payout ratio is 17.66%.

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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