Martin Marietta Materials (NYSE:MLM) Sets New 52-Week High - What's Next?

Key Points

• Martin Marietta Materials reached a new 52-week high of $642.36 during trading, showcasing a strong performance as analysts continue to issue positive ratings and increased price targets.
• The company's quarterly earnings report showed missed estimates with an EPS of $5.43, slightly below the consensus of $5.44, although revenue increased by 2.7% year-over-year.
• Martin Marietta recently raised its quarterly dividend from $0.79 to $0.83, reflecting a commitment to returning value to shareholders.

Shares of Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $642.36 and last traded at $641.76, with a volume of 49426 shares. The stock had previously closed at $632.38.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Raymond James Financial upped their price target on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Stifel Nicolaus increased their price objective on Martin Marietta Materials from $609.00 to $637.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. 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. Weiss Ratings reissued a "buy (b-)" rating on shares of Martin Marietta Materials in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Martin Marietta Materials currently has an average rating of "Moderate Buy" and an average target price of $621.69.

Martin Marietta Materials Stock Performance

The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. The stock's 50 day moving average price is $615.86 and its 200 day moving average price is $563.88. The company has a market capitalization of $38.69 billion, a price-to-earnings ratio of 35.59, a P/E/G ratio of 5.73 and a beta of 1.01.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.44 by ($0.01). The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The company'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 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. Analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were paid a $0.83 dividend. This is a boost from Martin Marietta Materials's previous quarterly dividend of $0.79. The ex-dividend date was Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials's dividend payout ratio (DPR) is currently 18.41%.

Insider Buying and Selling

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the company's 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. The trade was a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Martin Marietta Materials

A number of large investors have recently made changes to their positions in MLM. Parkside Financial Bank & Trust grew its stake in Martin Marietta Materials by 10.4% in the second quarter. Parkside Financial Bank & Trust now owns 181 shares of the construction company's stock valued at $99,000 after purchasing an additional 17 shares during the last quarter. Snowden Capital Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 1.9% in the 2nd quarter. Snowden Capital Advisors LLC now owns 970 shares of the construction company's stock valued at $533,000 after buying an additional 18 shares in the last quarter. Personal CFO Solutions LLC grew its position in shares of Martin Marietta Materials by 2.5% in the 2nd quarter. Personal CFO Solutions LLC now owns 787 shares of the construction company's stock worth $432,000 after buying an additional 19 shares during the last quarter. PDS Planning Inc raised its stake in shares of Martin Marietta Materials by 4.9% during the 1st quarter. PDS Planning Inc now owns 452 shares of the construction company's stock worth $216,000 after acquiring an additional 21 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Martin Marietta Materials by 1.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,205 shares of the construction company's stock valued at $661,000 after acquiring an additional 21 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

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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