Analysts Set Martin Marietta Materials, Inc. (MLM) Price Target at $240.50

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have received a consensus recommendation of “Hold” from the eleven analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $240.50.

Several research analysts recently issued reports on MLM shares. Bank of America decreased their price target on shares of Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating for the company in a research note on Thursday, October 19th. Citigroup reiterated a “buy” rating and issued a $260.00 price target (down from $270.00) on shares of Martin Marietta Materials in a research note on Monday, October 9th. Stephens reissued a “hold” rating and set a $250.00 price objective on shares of Martin Marietta Materials in a research report on Wednesday, January 3rd. Jefferies Group reissued a “buy” rating and set a $240.00 price objective on shares of Martin Marietta Materials in a research report on Wednesday, October 11th. Finally, SunTrust Banks reissued a “buy” rating and set a $228.00 price objective on shares of Martin Marietta Materials in a research report on Friday, October 27th.

Shares of Martin Marietta Materials (NYSE:MLM) traded up $1.12 during trading on Tuesday, hitting $230.76. 479,369 shares of the company traded hands, compared to its average volume of 575,774. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 2.73. The company has a market cap of $14,505.57, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. Martin Marietta Materials has a 52 week low of $191.09 and a 52 week high of $244.32.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, November 2nd. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.45 by ($0.06). The business had revenue of $1.02 million during the quarter, compared to the consensus estimate of $1.07 billion. Martin Marietta Materials had a return on equity of 10.39% and a net margin of 11.03%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.49 earnings per share. equities analysts anticipate that Martin Marietta Materials will post 6.82 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 1st were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.76%. The ex-dividend date was Thursday, November 30th. Martin Marietta Materials’s dividend payout ratio (DPR) is 25.66%.

A number of hedge funds have recently made changes to their positions in MLM. Robeco Institutional Asset Management B.V. grew its position in Martin Marietta Materials by 130.9% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock valued at $120,000 after purchasing an additional 305 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Martin Marietta Materials by 9.5% during the 2nd quarter. Pacer Advisors Inc. now owns 1,343 shares of the construction company’s stock valued at $299,000 after acquiring an additional 116 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Martin Marietta Materials by 13.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,529 shares of the construction company’s stock valued at $1,008,000 after acquiring an additional 527 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Martin Marietta Materials by 3.0% during the 2nd quarter. Wells Fargo & Company MN now owns 165,279 shares of the construction company’s stock valued at $36,788,000 after acquiring an additional 4,799 shares during the last quarter. Finally, Financial Counselors Inc. boosted its holdings in shares of Martin Marietta Materials by 5.6% during the 2nd quarter. Financial Counselors Inc. now owns 1,135 shares of the construction company’s stock valued at $253,000 after acquiring an additional 60 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors.

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Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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