Martin Marietta Materials, Inc. (NYSE:MLM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Posted by Defense World Staff on Jun 7th, 2023

Martin Marietta Materials, Inc. (NYSE:MLM – Get Rating) has received a consensus rating of “Moderate Buy” from the sixteen analysts that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $412.75.

Several research firms have recently issued reports on MLM. DA Davidson raised their price target on Martin Marietta Materials from $450.00 to $465.00 in a research report on Wednesday, May 10th. Raymond James raised their price target on Martin Marietta Materials from $389.00 to $405.00 and gave the stock an “outperform” rating in a research report on Thursday, February 16th. Loop Capital raised their price target on Martin Marietta Materials from $450.00 to $475.00 in a research report on Friday, May 5th. Seaport Res Ptn reiterated a “neutral” rating on shares of Martin Marietta Materials in a report on Friday, February 10th. Finally, StockNews.com started coverage on Martin Marietta Materials in a report on Thursday, May 18th. They set a “hold” rating on the stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its position in Martin Marietta Materials by 41.7% during the first quarter. ProShare Advisors LLC now owns 10,904 shares of the construction company’s stock valued at $3,872,000 after buying an additional 3,210 shares during the period. Toroso Investments LLC boosted its position in Martin Marietta Materials by 12.0% during the first quarter. Toroso Investments LLC now owns 2,269 shares of the construction company’s stock valued at $806,000 after buying an additional 244 shares during the period. Centaurus Financial Inc. boosted its position in Martin Marietta Materials by 9.4% during the first quarter. Centaurus Financial Inc. now owns 336 shares of the construction company’s stock valued at $119,000 after buying an additional 29 shares during the period. Chevy Chase Trust Holdings LLC boosted its position in Martin Marietta Materials by 0.9% during the first quarter. Chevy Chase Trust Holdings LLC now owns 37,503 shares of the construction company’s stock valued at $13,316,000 after buying an additional 336 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in Martin Marietta Materials by 8.0% during the first quarter. Thrivent Financial for Lutherans now owns 46,589 shares of the construction company’s stock valued at $16,542,000 after buying an additional 3,438 shares during the period. 93.07% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Up 0.2 %

MLM stock opened at $418.10 on Wednesday. The business has a fifty day moving average price of $376.52 and a 200 day moving average price of $360.41. Martin Marietta Materials has a fifty-two week low of $284.99 and a fifty-two week high of $428.60. The stock has a market capitalization of $25.91 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 1.66 and a beta of 0.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.12 and a quick ratio of 1.40.

Martin Marietta Materials (NYSE:MLM – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The construction company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $1.17. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.27 billion. Martin Marietta Materials had a return on equity of 12.31% and a net margin of 15.39%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. Analysts expect that Martin Marietta Materials will post 15.94 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 1st will be given a dividend of $0.66 per share. The ex-dividend date is Wednesday, May 31st. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.63%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 17.04%.

Martin Marietta Materials Company Profile

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Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregated products only.