Martin Marietta Materials, Inc. (MLM) Receives Average Rating of “Buy” from Analysts

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Martin Marietta Materials, Inc. (NYSE:MLM) has been given a consensus recommendation of “Buy” by the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $241.22.

A number of research firms recently weighed in on MLM. Zacks Investment Research upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $258.00 price target for the company in a research report on Thursday, June 14th. Bank of America decreased their price target on Martin Marietta Materials to $247.00 and set a “buy” rating for the company in a research report on Wednesday, July 25th. Barclays set a $232.00 price target on Martin Marietta Materials and gave the company a “hold” rating in a research report on Thursday, May 31st. ValuEngine upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Finally, Stifel Nicolaus increased their price target on Martin Marietta Materials from $256.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, July 27th.

In related news, SVP Donald A. Mccunniff sold 2,250 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $204.33, for a total value of $459,742.50. Following the completion of the sale, the senior vice president now directly owns 12,649 shares of the company’s stock, valued at approximately $2,584,570.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John J. Koraleski acquired 2,400 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, July 27th. The stock was acquired at an average cost of $208.06 per share, with a total value of $499,344.00. Following the completion of the purchase, the director now owns 4,750 shares in the company, valued at approximately $988,285. The disclosure for this purchase can be found here. 0.75% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in MLM. Morgan Stanley lifted its stake in Martin Marietta Materials by 27.9% in the 2nd quarter. Morgan Stanley now owns 3,492,115 shares of the construction company’s stock worth $779,894,000 after acquiring an additional 760,872 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in Martin Marietta Materials by 99.2% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,500,533 shares of the construction company’s stock worth $311,061,000 after acquiring an additional 747,383 shares in the last quarter. Standard Life Aberdeen plc raised its stake in shares of Martin Marietta Materials by 226.2% during the 2nd quarter. Standard Life Aberdeen plc now owns 739,350 shares of the construction company’s stock worth $165,130,000 after purchasing an additional 512,723 shares in the last quarter. FMR LLC raised its stake in shares of Martin Marietta Materials by 37.9% during the 2nd quarter. FMR LLC now owns 1,831,320 shares of the construction company’s stock worth $408,988,000 after purchasing an additional 503,126 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Martin Marietta Materials by 4,255.7% during the 1st quarter. Millennium Management LLC now owns 364,225 shares of the construction company’s stock worth $75,504,000 after purchasing an additional 355,863 shares in the last quarter.

MLM stock traded down $1.88 during trading hours on Friday, hitting $193.61. 19,837 shares of the stock traded hands, compared to its average volume of 569,331. Martin Marietta Materials has a one year low of $188.34 and a one year high of $241.33. The stock has a market capitalization of $12.36 billion, a P/E ratio of 26.95, a P/E/G ratio of 1.46 and a beta of 1.06. The company has a quick ratio of 1.14, a current ratio of 2.05 and a debt-to-equity ratio of 0.60.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, July 26th. The construction company reported $3.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.80 by $0.45. Martin Marietta Materials had a return on equity of 10.52% and a net margin of 17.82%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the business posted $2.27 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. sell-side analysts anticipate that Martin Marietta Materials will post 9.44 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Tuesday, September 4th will be paid a $0.48 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a yield of 0.99%. The ex-dividend date is Friday, August 31st. Martin Marietta Materials’s dividend payout ratio is currently 26.74%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural-resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; 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.

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Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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