Analysts Set Martin Marietta Materials, Inc. (NYSE:MLM) Price Target at $634.85

Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the fifteen research firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $634.85.

MLM has been the subject of several analyst reports. Barclays upped their price target on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. StockNews.com upgraded Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Truist Financial decreased their price target on Martin Marietta Materials from $700.00 to $670.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. UBS Group initiated coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They set a "buy" rating and a $730.00 price objective for the company. Finally, Loop Capital lifted their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC raised its holdings in Martin Marietta Materials by 15.3% in the third quarter. FMR LLC now owns 2,515,441 shares of the construction company's stock worth $1,353,936,000 after purchasing an additional 334,605 shares in the last quarter. Principal Financial Group Inc. lifted its position in 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 valued at $876,648,000 after acquiring an additional 704,460 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Martin Marietta Materials by 114.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company's stock valued at $602,092,000 after acquiring an additional 523,038 shares during the period. Dimensional Fund Advisors LP boosted its stake in Martin Marietta Materials by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company's stock worth $337,903,000 after acquiring an additional 12,759 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in Martin Marietta Materials by 54.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company's stock worth $251,784,000 after purchasing an additional 164,503 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

NYSE:MLM traded down $0.39 during mid-day trading on Wednesday, reaching $606.40. The stock had a trading volume of 233,421 shares, compared to its average volume of 446,374. The stock has a market capitalization of $37.06 billion, a P/E ratio of 18.90, a P/E/G ratio of 4.05 and a beta of 0.90. The firm has a 50 day moving average price of $550.70 and a two-hundred day moving average price of $556.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. Martin Marietta Materials has a one year low of $451.37 and a one year high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts' consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm posted $6.94 earnings per share. The company's revenue was down 5.3% compared to the same quarter last year. As a group, analysts expect that Martin Marietta Materials will post 17.84 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials's payout ratio is currently 9.85%.

About Martin Marietta Materials

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.