Martin Marietta Materials, Inc. (NYSE:MLM) Receives $599.69 Average Target Price from Analysts

Shares of Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) have earned a consensus rating of "Moderate Buy" from the sixteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $599.69.

A number of analysts recently issued reports on MLM shares. StockNews.com raised shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Barclays lowered their target price on Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Truist Financial lowered their target price on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Loop Capital reduced their price target on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. downgraded Martin Marietta Materials from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $640.00 to $560.00 in a report on Wednesday, March 19th.

Martin Marietta Materials Price Performance

MLM stock traded up $11.90 during midday trading on Wednesday, hitting $553.75. 18,415 shares of the stock were exchanged, compared to its average volume of 484,476. The stock's 50-day moving average price is $491.51 and its 200-day moving average price is $528.97. The stock has a market cap of $33.38 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 4.45 and a beta of 0.89. Martin Marietta Materials has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.88 by $0.02. The company had revenue of $1.35 billion during 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.93 earnings per share. Research analysts predict that Martin Marietta Materials will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Monday, March 3rd. Martin Marietta Materials's dividend payout ratio is presently 18.20%.

Insider Buying and Selling

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the sale, the executive vice president now directly owns 3,523 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at this link. Also, SVP Michael J. Petro bought 550 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the transaction, the senior vice president now directly owns 8,985 shares of the company's stock, valued at $4,082,514.45. This trade represents a 6.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Martin Marietta Materials

A number of institutional investors have recently bought and sold shares of MLM. Franklin Street Advisors Inc. NC boosted its stake in Martin Marietta Materials by 15.5% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company's stock valued at $13,037,000 after purchasing an additional 3,384 shares during the period. RMR Wealth Builders lifted its position in shares of Martin Marietta Materials by 431.3% during the 4th quarter. RMR Wealth Builders now owns 2,391 shares of the construction company's stock worth $1,235,000 after buying an additional 1,941 shares during the period. InTrack Investment Management Inc lifted its position in shares of Martin Marietta Materials by 33.9% during the 4th quarter. InTrack Investment Management Inc now owns 3,446 shares of the construction company's stock worth $1,784,000 after buying an additional 872 shares during the period. Fifth Third Bancorp lifted its position in shares of Martin Marietta Materials by 24.6% during the 4th quarter. Fifth Third Bancorp now owns 7,005 shares of the construction company's stock worth $3,618,000 after buying an additional 1,382 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Martin Marietta Materials by 64.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,028 shares of the construction company's stock worth $1,047,000 after buying an additional 796 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

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.