Martin Marietta Materials, Inc. (NYSE:MLM) Receives $634.36 Average Price Target from Analysts

Shares of Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) have earned an average recommendation of "Moderate Buy" from the sixteen brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $628.64.

Several equities research analysts recently commented on MLM shares. StockNews.com cut Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. lowered shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $640.00 to $560.00 in a research note on Wednesday. Morgan Stanley reduced their price target on shares of Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Hsbc Global Res upgraded shares of Martin Marietta Materials from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Finally, Truist Financial reduced their target price on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a research note on Thursday, February 13th.

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Martin Marietta Materials Trading Down 1.3 %

Shares of MLM traded down $6.29 during mid-day trading on Tuesday, reaching $477.49. 375,481 shares of the company were exchanged, compared to its average volume of 458,698. The business has a 50 day simple moving average of $511.89 and a two-hundred day simple moving average of $539.58. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The stock has a market capitalization of $29.11 billion, a PE ratio of 14.78, a PEG ratio of 4.45 and a beta of 0.89. Martin Marietta Materials has a 52 week low of $448.50 and a 52 week high of $633.23.

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

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.66%. Martin Marietta Materials's dividend payout ratio is 9.77%.

Insiders Place Their Bets

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the transaction, the executive vice president now owns 3,523 shares of the company's stock, valued at $1,673,425. The trade was a 27.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael J. Petro acquired 550 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $454.37 per share, with a total value of $249,903.50. Following the purchase, the senior vice president now owns 8,985 shares of the company's stock, valued at $4,082,514.45. This represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.68% of the company's stock.

Hedge Funds Weigh In On Martin Marietta Materials

A number of institutional investors have recently made changes to their positions in MLM. Integrated Wealth Concepts LLC raised its position in Martin Marietta Materials by 2.5% during the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company's stock valued at $421,000 after purchasing an additional 19 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in Martin Marietta Materials by 1.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock worth $690,000 after buying an additional 19 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in Martin Marietta Materials by 1.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock worth $527,000 after buying an additional 19 shares in the last quarter. iA Global Asset Management Inc. grew its position 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 valued at $307,000 after acquiring an additional 20 shares during the last quarter. Finally, Brooklyn Investment Group raised its stake in shares of Martin Marietta Materials by 4.7% during the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company's stock worth $231,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

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.