Martin Marietta Materials, Inc. (MLM) Receives $220.57 Average Price Target from Analysts
Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have earned a consensus rating of “Hold” from the twelve analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $220.57.
A number of equities analysts have recently weighed in on MLM shares. Jefferies Group LLC set a $166.00 price target on Martin Marietta Materials and gave the stock a “hold” rating in a report on Monday, August 21st. Zacks Investment Research cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, BidaskClub cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday, August 5th.
Shares of Martin Marietta Materials (NYSE:MLM) traded down 0.21% during mid-day trading on Friday, hitting $205.97. 335,555 shares of the stock were exchanged. Martin Marietta Materials has a 12 month low of $167.06 and a 12 month high of $244.32. The company has a 50-day moving average price of $203.44 and a 200-day moving average price of $218.00. The stock has a market cap of $12.94 billion, a price-to-earnings ratio of 29.64 and a beta of 1.13.
Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, August 1st. The construction company reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.38 by ($0.13). The business had revenue of $996.30 million for the quarter, compared to analysts’ expectations of $1.01 billion. Martin Marietta Materials had a return on equity of 10.69% and a net margin of 11.19%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.90 earnings per share. Equities analysts expect that Martin Marietta Materials will post $7.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 5th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.85%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, August 31st. Martin Marietta Materials’s dividend payout ratio (DPR) is 25.29%.
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In other news, Director John J. Koraleski bought 500 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was bought at an average cost of $198.37 per share, for a total transaction of $99,185.00. Following the acquisition, the director now directly owns 1,439 shares of the company’s stock, valued at approximately $285,454.43. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.45% of the company’s stock.
A number of institutional investors have recently made changes to their positions in MLM. Mutual of America Capital Management LLC boosted its holdings in Martin Marietta Materials by 12.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 8,153 shares of the construction company’s stock valued at $1,779,000 after acquiring an additional 906 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Martin Marietta Materials by 5.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,403 shares of the construction company’s stock valued at $743,000 after acquiring an additional 175 shares during the period. Pacer Advisors Inc. boosted its holdings in Martin Marietta Materials by 3.7% during the 1st quarter. Pacer Advisors Inc. now owns 1,227 shares of the construction company’s stock valued at $268,000 after acquiring an additional 44 shares during the period. Aberdeen Asset Management PLC UK boosted its holdings in Martin Marietta Materials by 9.5% during the 1st quarter. Aberdeen Asset Management PLC UK now owns 11,845 shares of the construction company’s stock valued at $2,585,000 after acquiring an additional 1,023 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Martin Marietta Materials by 4.8% during the 1st quarter. Victory Capital Management Inc. now owns 15,445 shares of the construction company’s stock valued at $3,371,000 after acquiring an additional 713 shares during the period. Institutional investors own 95.78% of the company’s stock.
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.
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