On April 3, 2023, Goldman Sachs upgraded their outlook for Martin Marietta Materials (NYSE:MLM) from Neutral to Buy .
Analyst Price Forecast Suggests 21.73% Upside
As of March 30, 2023, the average one-year price target for Martin Marietta Materials is $433.35. The forecasts range from a low of $353.50 to a high of $504.00. The average price target represents an increase of 21.73% from its latest reported closing price of $356.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Martin Marietta Materials is $6,418MM, an increase of 12.00%. The projected annual non-GAAP EPS is $15.42.
Martin Marietta Materials Declares $0.66 Dividend
On February 23, 2023 the company declared a regular quarterly dividend of $0.66 per share ($2.64 annualized). Shareholders of record as of March 6, 2023 received the payment on March 31, 2023. Previously, the company paid $0.66 per share.
At the current share price of $356.00 / share, the stock's dividend yield is 0.74%. Looking back five years and taking a sample every week, the average dividend yield has been 0.84%, the lowest has been 0.56%, and the highest has been 1.53%. The standard deviation of yields is 0.17 (n=235).
The current dividend yield is 0.55 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.19. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.20%, demonstrating that it has increased its dividend over time.
What are Large Shareholders Doing?
Select Equity Group holds 3,611K shares representing 5.81% ownership of the company. In it's prior filing, the firm reported owning 3,926K shares, representing a decrease of 8.73%. The firm increased its portfolio allocation in MLM by 4.06% over the last quarter.
Aristotle Capital Management holds 3,303K shares representing 5.32% ownership of the company. In it's prior filing, the firm reported owning 3,490K shares, representing a decrease of 5.67%. The firm decreased its portfolio allocation in MLM by 5.23% over the last quarter.
Baillie Gifford & holds 3,148K shares representing 5.07% ownership of the company. In it's prior filing, the firm reported owning 3,405K shares, representing a decrease of 8.17%. The firm decreased its portfolio allocation in MLM by 1.95% over the last quarter.
Jpmorgan Chase & holds 2,161K shares representing 3.48% ownership of the company. In it's prior filing, the firm reported owning 2,257K shares, representing a decrease of 4.44%. The firm decreased its portfolio allocation in MLM by 7.77% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,886K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 1,862K shares, representing an increase of 1.27%. The firm decreased its portfolio allocation in MLM by 1.85% over the last quarter.
What is the Fund Sentiment?
There are 1462 funds or institutions reporting positions in Martin Marietta Materials. This is an increase of 58 owner(s) or 4.13% in the last quarter. Average portfolio weight of all funds dedicated to MLM is 0.31%, a decrease of 0.48%. Total shares owned by institutions increased in the last three months by 0.96% to 66,814K shares. The put/call ratio of MLM is 0.78, indicating a bullish outlook.
Martin Marietta Materials Background Information
(This description is provided by the company.)
An American-based company and a leading supplier of building materials, Martin Marietta teams supply the resources necessary for building the solid foundations on which our communities thrive.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
