Brokerages Set Martin Marietta Materials, Inc. (MLM) PT at $241.67

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) have received a consensus rating of “Buy” from the ten research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $245.33.

Several analysts recently commented on MLM shares. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $228.00 target price on shares of Martin Marietta Materials in a report on Friday. Jefferies Group LLC set a $166.00 price objective on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research note on Monday, August 21st. Bank of America Corporation dropped their price objective 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. Zacks Investment Research cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $260.00 price objective (down previously from $270.00) on shares of Martin Marietta Materials in a research note on Monday, October 9th.

In other news, Director John J. Koraleski acquired 500 shares of Martin Marietta Materials stock in a transaction dated Friday, August 18th. The shares were bought at an average cost of $198.37 per share, with a total value of $99,185.00. Following the purchase, the director now owns 1,439 shares in the company, valued at approximately $285,454.43. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 8.45% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Martin Marietta Materials by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,379,214 shares of the construction company’s stock valued at $1,419,885,000 after purchasing an additional 149,816 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Martin Marietta Materials by 2.2% in the 2nd quarter. BlackRock Inc. now owns 3,817,803 shares of the construction company’s stock valued at $849,766,000 after purchasing an additional 81,136 shares during the last quarter. Egerton Capital UK LLP boosted its stake in shares of Martin Marietta Materials by 329.1% in the 2nd quarter. Egerton Capital UK LLP now owns 1,967,865 shares of the construction company’s stock valued at $438,007,000 after purchasing an additional 1,509,258 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Martin Marietta Materials by 3.4% in the 2nd quarter. Principal Financial Group Inc. now owns 1,378,563 shares of the construction company’s stock valued at $306,840,000 after purchasing an additional 45,402 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Martin Marietta Materials by 17.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,292,920 shares of the construction company’s stock valued at $287,777,000 after purchasing an additional 188,942 shares during the last quarter. 96.23% of the stock is currently owned by institutional investors.

Shares of Martin Marietta Materials (NYSE MLM) traded up 0.09% during midday trading on Thursday, reaching $217.12. 367,115 shares of the company were exchanged. The company has a market capitalization of $13.64 billion, a P/E ratio of 31.24 and a beta of 1.13. Martin Marietta Materials has a 52-week low of $176.21 and a 52-week high of $244.32. The stock has a 50-day moving average price of $205.69 and a 200 day moving average price of $217.41.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.38 by ($0.13). Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. The firm had revenue of $996.30 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business earned $1.90 EPS. The business’s revenue was up 8.8% on a year-over-year basis. Equities research analysts expect that Martin Marietta Materials will post $7.14 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 5th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.81%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, August 31st. Martin Marietta Materials’s dividend payout ratio is currently 25.29%.

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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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