Martin Marietta Materials (NYSE:MLM) PT Raised to $737.00 at The Goldman Sachs Group

Martin Marietta Materials (NYSE:MLM) had its price objective upped by The Goldman Sachs Group from $642.00 to $737.00 in a research note issued to investors on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the construction company’s stock.

Several other equities research analysts have also recently commented on MLM. Stephens raised their target price on Martin Marietta Materials from $575.00 to $605.00 and gave the stock an overweight rating in a research note on Friday, February 16th. Stifel Nicolaus increased their price target on Martin Marietta Materials from $621.00 to $650.00 and gave the stock a buy rating in a report on Monday, April 15th. StockNews.com lowered Martin Marietta Materials from a buy rating to a hold rating in a report on Friday, February 9th. Raymond James increased their price target on Martin Marietta Materials from $505.00 to $555.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Finally, JPMorgan Chase & Co. reiterated a neutral rating and issued a $600.00 price target (up previously from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $588.69.

Martin Marietta Materials Trading Down 1.9 %

NYSE MLM opened at $576.12 on Tuesday. The business has a 50 day simple moving average of $587.38 and a 200 day simple moving average of $509.94. Martin Marietta Materials has a one year low of $343.79 and a one year high of $626.67. The stock has a market capitalization of $35.56 billion, a P/E ratio of 30.60, a P/E/G ratio of 2.85 and a beta of 0.96. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 14th. The construction company reported $4.63 EPS for the quarter, topping the consensus estimate of $3.96 by $0.67. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the firm posted $3.04 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. Research analysts expect that Martin Marietta Materials will post 21.23 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were issued a $0.74 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.51%. Martin Marietta Materials’s dividend payout ratio is presently 15.72%.

Insider Activity

In other news, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the transaction, the chief executive officer now owns 134,640 shares in the company, valued at $81,357,566.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Roselyn R. Bar sold 10,000 shares of Martin Marietta Materials stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the sale, the executive vice president now directly owns 59,970 shares in the company, valued at $36,179,301.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO C Howard Nye sold 15,000 shares of Martin Marietta Materials stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the sale, the chief executive officer now owns 134,640 shares in the company, valued at $81,357,566.40. The disclosure for this sale can be found here. Insiders have sold 26,724 shares of company stock worth $16,033,760 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Martin Marietta Materials

A number of hedge funds have recently bought and sold shares of MLM. Ables Iannone Moore & Associates Inc. bought a new stake in Martin Marietta Materials during the fourth quarter worth $25,000. Pinnacle Bancorp Inc. bought a new stake in Martin Marietta Materials during the fourth quarter worth $26,000. Riverview Trust Co bought a new stake in Martin Marietta Materials during the first quarter worth $26,000. MV Capital Management Inc. lifted its holdings in Martin Marietta Materials by 144.4% during the third quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock worth $27,000 after acquiring an additional 39 shares during the period. Finally, Exchange Traded Concepts LLC bought a new stake in Martin Marietta Materials during the fourth quarter worth $27,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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.