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

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have been assigned a consensus recommendation of “Buy” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $241.22.

MLM has been the subject of several research reports. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $258.00 price objective for the company in a research report on Thursday, June 14th. Barclays set a $232.00 price objective on shares of Martin Marietta Materials and gave the company a “hold” rating in a research report on Thursday, May 31st. Bank of America lowered their price objective on shares of Martin Marietta Materials to $247.00 and set a “buy” rating for the company in a research report on Wednesday, July 25th. ValuEngine upgraded shares of 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 objective on shares of Martin Marietta Materials from $256.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, July 27th.

MLM traded up $0.87 during trading on Friday, hitting $194.00. 333,840 shares of the company traded hands, compared to its average volume of 563,433. The stock has a market capitalization of $12.10 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.43 and a beta of 1.06. Martin Marietta Materials has a 1 year low of $188.34 and a 1 year high of $241.33. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.14 and a current ratio of 2.05.

Martin Marietta Materials (NYSE:MLM) last posted 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. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Martin Marietta Materials had a net margin of 17.82% and a return on equity of 10.52%. Martin Marietta Materials’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the company posted $2.27 earnings per share. equities research analysts forecast that Martin Marietta Materials will post 9.44 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Tuesday, September 4th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, August 31st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.44. Martin Marietta Materials’s dividend payout ratio (DPR) is 26.74%.

In other news, Director John J. Koraleski bought 2,400 shares of the stock in a transaction dated Friday, July 27th. The stock was purchased at an average price of $208.06 per share, for a total transaction of $499,344.00. Following the acquisition, the director now owns 4,750 shares of the company’s stock, valued at $988,285. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Donald A. Mccunniff sold 2,250 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $204.33, for a total transaction of $459,742.50. Following the completion of the sale, the senior vice president now owns 12,649 shares of the company’s stock, valued at approximately $2,584,570.17. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its holdings in Martin Marietta Materials by 8.3% during the 1st quarter. Wells Fargo & Company MN now owns 216,400 shares of the construction company’s stock valued at $44,860,000 after buying an additional 16,575 shares in the last quarter. Mackay Shields LLC purchased a new position in Martin Marietta Materials during the 1st quarter valued at about $2,193,000. Victory Capital Management Inc. increased its position in Martin Marietta Materials by 14.9% during the 1st quarter. Victory Capital Management Inc. now owns 23,829 shares of the construction company’s stock valued at $4,940,000 after purchasing an additional 3,086 shares during the period. State of Wisconsin Investment Board increased its position in Martin Marietta Materials by 17.1% during the 1st quarter. State of Wisconsin Investment Board now owns 57,773 shares of the construction company’s stock valued at $11,976,000 after purchasing an additional 8,432 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Martin Marietta Materials by 4.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 229,654 shares of the construction company’s stock valued at $47,608,000 after purchasing an additional 9,407 shares during the period.

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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