Martin Marietta Materials (NYSE:MLM) Price Target Raised to $609.00

Martin Marietta Materials (NYSE:MLM) had its price target boosted by Stifel Nicolaus from $559.00 to $609.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

MLM has been the topic of several other reports. Citigroup reduced their price objective on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Barclays lowered their price target on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Truist Financial cut their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Seaport Res Ptn upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $603.23.

Martin Marietta Materials Stock Up 2.6 %

Shares of MLM opened at $536.61 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The stock has a market capitalization of $32.52 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. Martin Marietta Materials has a 1 year low of $441.95 and a 1 year high of $633.23. The business’s 50 day simple moving average is $485.33 and its 200-day simple moving average is $530.36.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm earned $1.93 earnings per share. Martin Marietta Materials’s revenue was up 8.2% on a year-over-year basis. As a group, equities analysts expect that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were paid a $0.79 dividend. The ex-dividend date was Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.59%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.77%.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares of the company’s stock, valued at approximately $1,673,425. This trade represents a 27.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael J. Petro purchased 550 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $454.37 per share, with a total value of $249,903.50. Following the transaction, the senior vice president now directly owns 8,985 shares in the company, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. 0.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Martin Marietta Materials

Large investors have recently bought and sold shares of the business. Lee Danner & Bass Inc. purchased a new position in shares of Martin Marietta Materials in the 4th quarter valued at $28,000. Wayfinding Financial LLC purchased a new position in Martin Marietta Materials in the first quarter valued at about $29,000. Chilton Capital Management LLC purchased a new position in Martin Marietta Materials in the first quarter valued at about $30,000. Whipplewood Advisors LLC bought a new position in Martin Marietta Materials in the fourth quarter worth about $32,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Martin Marietta Materials during the fourth quarter valued at about $35,000. 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.