Martin Marietta Materials Inc. [MLM] Stock trading around $264.76 per share: What’s Next?

Martin Marietta Materials Inc. [NYSE: MLM] stock went on an upward path that rose over 6.06% on Wednesday, amounting to a one-week price increase of more than 12.49%. The company report on August 14, 2020 that Martin Marietta Increases Quarterly Cash Dividend.

Martin Marietta Materials, Inc. (NYSE:MLM) (“Martin Marietta” or the “Company”) today announced that its Board of Directors approved a 4 percent increase in its quarterly cash dividend, raising it from $0.55 per share to $0.57 per share on the Company’s outstanding common stock. This dividend, which represents a cash dividend of $2.28 per share on an annualized basis, is payable on September 30, 2020, to shareholders of record at the close of business on September 1, 2020.

Ward Nye, Chairman, President and Chief Executive Officer, stated, “Martin Marietta is proud to extend our track record of delivering meaningful and sustainable dividends as part of our balanced capital allocation strategy. Supported by our strong financial position and durable business model, today’s announced dividend increase underscores our continued confidence in our Company’s future performance and cash generation as we responsibly navigate the current uncertainties presented by the COVID-19 pandemic and drive long-term sustainable growth and shareholder value.”.

Over the last 12 months, MLM stock rose by 0.69%. The one-year Martin Marietta Materials Inc. stock forecast points to a potential downside of -8.02. The average equity rating for MLM stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $16.10 billion, with 62.30 million shares outstanding and 61.60 million shares in the current float. Compared to the average trading volume of 590.06K shares, MLM stock reached a trading volume of 1347045 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Martin Marietta Materials Inc. [MLM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MLM shares is $245.11 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MLM stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Martin Marietta Materials Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 06, 2020. While these analysts kept the previous recommendation, Atlantic Equities raised their target price to Overweight. The new note on the price target was released on June 19, 2020, representing the official price target for Martin Marietta Materials Inc. stock. Previously, the target price had yet another raise from $190 to $210, while JP Morgan kept a Overweight rating on MLM stock.

The Average True Range (ATR) for Martin Marietta Materials Inc. is set at 9.21, with the Price to Sales ratio for MLM stock in the period of the last 12 months amounting to 3.39. The Price to Book ratio for the last quarter was 3.00, with the Price to Cash per share for the same quarter was set at 1.15. Price to Free Cash Flow for MLM in the course of the last twelve months was 31.86 with Quick ratio for the last quarter at 1.50.

MLM Stock Performance Analysis:

Martin Marietta Materials Inc. [MLM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.49. With this latest performance, MLM shares gained by 27.95% in over the last four-week period, additionally plugging by 34.55% over the last 6 months – not to mention a rise of 0.69% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MLM stock in for the last two-week period is set at 80.95, with the RSI for the last a single of trading hit 88.45, and the three-weeks RSI is set at 75.39 for Martin Marietta Materials Inc. [MLM]. The present Moving Average for the last 50 days of trading for this stock 219.07, while it was recorded at 247.80 for the last single week of trading, and 218.40 for the last 200 days.

Insight into Martin Marietta Materials Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Martin Marietta Materials Inc. [MLM] shares currently have an operating margin of +18.68 and a Gross Margin at +24.69. Martin Marietta Materials Inc.’s Net Margin is presently recorded at +12.89.

Return on Total Capital for MLM is now 10.61, given the latest momentum, and Return on Invested Capital for the company is 7.69. Return on Equity for this stock inclined to 11.87, with Return on Assets sitting at 6.07. When it comes to the capital structure of this company, Martin Marietta Materials Inc. [MLM] has a Total Debt to Total Equity ratio set at 60.93. Additionally, MLM Total Debt to Total Capital is recorded at 37.86, with Total Debt to Total Assets ending up at 31.29. Long-Term Debt to Equity for the company is recorded at 53.59, with the Long-Term Debt to Total Capital now at 33.30.

Reflecting on the efficiency of the workforce at the company, Martin Marietta Materials Inc. [MLM] managed to generate an average of $69,071 per employee. Receivables Turnover for the company is 8.64 with a Total Asset Turnover recorded at a value of 0.47.Martin Marietta Materials Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.70.

MLM Stock EPS

With the latest financial reports released by the company, Martin Marietta Materials Inc. posted 3.96/share EPS, while the average EPS was predicted by analysts to be reported at 3.51/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MLM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Martin Marietta Materials Inc. go to 4.97%.

Martin Marietta Materials Inc. [MLM] Insider Position Details

There are presently around $15,860 million, or 99.10% of MLM stock, in the hands of institutional investors. The top three institutional holders of MLM stocks are: VANGUARD GROUP INC with ownership of 6,892,908, which is approximately -2.436% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 3,881,657 shares of the stock with an approximate value of $1.03 billion in MLM stocks shares; and SELECT EQUITY GROUP, L.P., currently with $856.8 million in MLM stock with ownership of nearly -0.538% of the company’s market capitalization.

Positions in Martin Marietta Materials Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 282 institutional holders increased their position in Martin Marietta Materials Inc. [NYSE:MLM] by around 5,440,229 shares. Additionally, 291 investors decreased positions by around 5,451,029 shares, while 90 investors held positions by with 49,012,751 shares. The mentioned changes placed institutional holdings at 59,904,009 shares, according to the latest SEC report filing. MLM stock had 87 new institutional investments in for a total of 1,198,757 shares, while 77 institutional investors sold positions of 1,065,085 shares during the same period.

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