Martin Marietta Materials, Inc. (NYSE:MLM) Receives $609.43 Average Price Target from Analysts

Shares of Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) have received an average recommendation of "Moderate Buy" from the seventeen research firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $609.43.

MLM has been the subject of a number of recent analyst reports. Truist Financial lowered their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a report on Thursday, February 13th. UBS Group cut Martin Marietta Materials from a "buy" rating to a "neutral" rating and set a $491.00 price target on the stock. in a research note on Monday, April 7th. Wolfe Research upgraded Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 price objective for the company in a research note on Wednesday, January 8th. Stephens cut their target price on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Finally, StockNews.com downgraded shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th.

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Martin Marietta Materials Trading Down 0.7 %

Shares of NYSE MLM traded down $3.75 during midday trading on Friday, hitting $499.18. The stock had a trading volume of 326,540 shares, compared to its average volume of 489,041. The company has a fifty day moving average price of $489.70 and a 200 day moving average price of $533.50. The company has a market capitalization of $30.44 billion, a price-to-earnings ratio of 15.44, a PEG 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 company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating 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%. On average, analysts predict that Martin Marietta Materials will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Monday, March 3rd. Martin Marietta Materials's dividend payout ratio is presently 9.77%.

Insider Buying and Selling at Martin Marietta Materials

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the sale, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. This trade represents a 27.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael J. Petro acquired 550 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $454.37 per share, with a total value of $249,903.50. Following the acquisition, the senior vice president now directly owns 8,985 shares of the company's stock, valued at approximately $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. 0.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Martin Marietta Materials

Several large investors have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its stake in shares of Martin Marietta Materials by 76.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company's stock worth $876,648,000 after acquiring an additional 704,460 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Martin Marietta Materials by 9.8% during the 3rd quarter. Wellington Management Group LLP now owns 425 shares of the construction company's stock worth $229,000 after purchasing an additional 38 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in Martin Marietta Materials by 10.7% in the third quarter. Coldstream Capital Management Inc. now owns 1,734 shares of the construction company's stock worth $939,000 after purchasing an additional 168 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Martin Marietta Materials in the 3rd quarter valued at approximately $2,975,000. Finally, Sanctuary Advisors LLC raised its holdings in Martin Marietta Materials by 18.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company's stock worth $4,914,000 after acquiring an additional 1,286 shares during the period. 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.