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

Key Points

• Martin Marietta Materials, Inc. has received a consensus rating of "Moderate Buy" from 19 brokerages, with an average price target of $622.63.
• The company recently declared a quarterly dividend increase to $0.83 per share, up from $0.79, indicating a commitment to returning value to shareholders.
• In the last quarter, Martin Marietta reported an earnings per share (EPS) of $5.43, slightly missing analysts' expectations, with revenues totaling $1.81 billion.

Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) has received a consensus rating of "Moderate Buy" from the nineteen brokerages that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $622.6250.

MLM has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. UBS Group upgraded shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and raised their target price for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. DA Davidson raised their target price on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Stephens restated an "overweight" rating and set a $700.00 target price on shares of Martin Marietta Materials in a research report on Monday, August 4th. Finally, Bank of America raised their target price on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th.

Insiders Place Their Bets

In related news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction on Friday, August 8th. The shares were sold at an average price of $613.32, for a total value of $636,626.16. Following the transaction, the director directly owned 15,417 shares in the company, valued at $9,455,554.44. This trade represents a 6.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Martin Marietta Materials

A number of hedge funds and other institutional investors have recently bought and sold shares of MLM. Twin Peaks Wealth Advisors LLC purchased a new position in Martin Marietta Materials in the 2nd quarter valued at $28,000. Wayfinding Financial LLC purchased a new position in Martin Marietta Materials in the 1st quarter valued at $29,000. Chilton Capital Management LLC purchased a new position in Martin Marietta Materials in the 1st quarter valued at $30,000. Zions Bancorporation National Association UT purchased a new position in Martin Marietta Materials in the 1st quarter valued at $30,000. Finally, NewSquare Capital LLC grew its position in Martin Marietta Materials by 62.2% in the 2nd quarter. NewSquare Capital LLC now owns 60 shares of the construction company's stock valued at $33,000 after buying an additional 23 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $626.70 on Tuesday. The firm has a market capitalization of $37.80 billion, a P/E ratio of 34.76, a P/E/G ratio of 5.64 and a beta of 0.94. Martin Marietta Materials has a 52 week low of $441.95 and a 52 week high of $633.23. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The firm's 50 day moving average is $589.16 and its two-hundred day moving average is $540.00.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.44 by ($0.01). The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.88 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The business's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. Research analysts forecast that Martin Marietta Materials will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Martin Marietta Materials's previous quarterly dividend of $0.79. The ex-dividend date is Tuesday, September 2nd. Martin Marietta Materials's payout ratio is 18.41%.

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.

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