Martin Marietta Materials, Inc. (NYSE:MLM) Receives $653.08 Consensus Target Price from Brokerages

Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the sixteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $653.08.

A number of analysts recently issued reports on MLM shares. 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. Hsbc Global Res raised shares of Martin Marietta Materials from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. HSBC raised shares of Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 target price on the stock in a research note on Wednesday, December 11th. UBS Group initiated coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They set a "buy" rating and a $730.00 price target for the company. Finally, StockNews.com lowered Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Wednesday.

Institutional Investors Weigh In On Martin Marietta Materials

A number of institutional investors have recently modified their holdings of the stock. Inspire Investing LLC raised its stake in Martin Marietta Materials by 0.9% during the third quarter. Inspire Investing LLC now owns 2,126 shares of the construction company's stock valued at $1,144,000 after buying an additional 19 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of Martin Marietta Materials by 2.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company's stock valued at $421,000 after buying an additional 19 shares during the period. Meiji Yasuda Life Insurance Co grew its position in shares of Martin Marietta Materials by 3.0% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company's stock valued at $368,000 after buying an additional 20 shares during the last quarter. iA Global Asset Management Inc. raised its stake in Martin Marietta Materials by 3.6% during the third quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company's stock worth $307,000 after acquiring an additional 20 shares during the period. Finally, Financial Counselors Inc. lifted its holdings in Martin Marietta Materials by 1.9% in the third quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company's stock worth $604,000 after acquiring an additional 21 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Trading Down 1.2 %

NYSE:MLM traded down $5.94 during trading hours on Thursday, reaching $510.56. 414,679 shares of the company were exchanged, compared to its average volume of 443,312. Martin Marietta Materials has a 52-week low of $479.67 and a 52-week high of $633.23. The stock has a 50 day simple moving average of $572.06 and a 200 day simple moving average of $552.78. The firm has a market cap of $31.20 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 3.74 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its earnings results 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). The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Martin Marietta Materials's revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.94 EPS. As a group, analysts predict that Martin Marietta Materials will post 17.58 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.62%. Martin Marietta Materials's dividend payout ratio (DPR) is 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.