Martin Marietta Materials, Inc. (NYSE:MLM) Receives Consensus Rating of “Hold” from Brokerages

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have earned a consensus recommendation of “Hold” from the seventeen analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $697.1250.

MLM has been the subject of a number of recent analyst reports. Loop Capital lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price target for the company. in a report on Wednesday, January 28th. Wall Street Zen lowered shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Citigroup boosted their price objective on shares of Martin Marietta Materials from $780.00 to $804.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Weiss Ratings downgraded shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 23rd. Finally, DA Davidson set a $680.00 target price on shares of Martin Marietta Materials in a report on Thursday, February 12th.

Hedge Funds Weigh In On Martin Marietta Materials

Hedge funds have recently made changes to their positions in the business. Optima Capital LLC bought a new stake in Martin Marietta Materials in the fourth quarter valued at $25,000. Quent Capital LLC bought a new position in Martin Marietta Materials in the 3rd quarter worth $26,000. KERR FINANCIAL PLANNING Corp bought a new position in Martin Marietta Materials in the 3rd quarter worth $27,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Martin Marietta Materials in the 2nd quarter worth about $28,000. Finally, Garton & Associates Financial Advisors LLC purchased a new stake in shares of Martin Marietta Materials in the 4th quarter worth about $31,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

MLM opened at $611.01 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. The stock’s 50 day simple moving average is $657.46 and its 200 day simple moving average is $632.91. The firm has a market cap of $36.85 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 2.34 and a beta of 1.13. Martin Marietta Materials has a 1 year low of $441.95 and a 1 year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the company posted $4.79 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts predict that Martin Marietta Materials will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be issued a $0.83 dividend. The ex-dividend date is Monday, March 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is 17.66%.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.