Martin Marietta Materials, Inc. (NYSE:MLM) Receives $639.43 Consensus Price Target from Analysts

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have earned a consensus recommendation of “Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $639.43.

Several research analysts have recently weighed in on MLM shares. Citigroup dropped their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective for the company in a report on Wednesday, December 11th. Wolfe Research raised Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price target for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $515.00 to $640.00 in a research report on Wednesday, November 27th. Finally, BNP Paribas downgraded shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $483.06 on Friday. The company has a 50-day moving average of $527.00 and a 200-day moving average of $546.10. The firm has a market cap of $29.52 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 4.45 and a beta of 0.91. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials has a twelve month low of $482.14 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Analysts forecast that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is currently 9.77%.

Hedge Funds Weigh In On Martin Marietta Materials

Several large investors have recently made changes to their positions in the business. Integrated Advisors Network LLC bought a new position in Martin Marietta Materials in the 4th quarter worth approximately $208,000. Sunbeam Capital Management LLC acquired a new stake in shares of Martin Marietta Materials in the fourth quarter worth $235,000. Mackenzie Financial Corp increased its position in Martin Marietta Materials by 13.1% during the fourth quarter. Mackenzie Financial Corp now owns 8,150 shares of the construction company’s stock worth $4,209,000 after acquiring an additional 942 shares during the period. Forum Financial Management LP raised its stake in Martin Marietta Materials by 2.8% during the 4th quarter. Forum Financial Management LP now owns 1,246 shares of the construction company’s stock valued at $644,000 after purchasing an additional 34 shares during the last quarter. Finally, Toronto Dominion Bank boosted its holdings in Martin Marietta Materials by 53.1% in the 4th quarter. Toronto Dominion Bank now owns 34,708 shares of the construction company’s stock valued at $17,926,000 after purchasing an additional 12,040 shares during the period. Institutional investors and hedge funds 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.