Fintel reports that on October 24, 2023, Seaport Global upgraded their outlook for Martin Marietta Materials (NYSE:MLM) from Neutral to Buy .
Analyst Price Forecast Suggests 23.87% Upside
As of October 5, 2023, the average one-year price target for Martin Marietta Materials is 515.80. The forecasts range from a low of 379.76 to a high of $593.25. The average price target represents an increase of 23.87% from its latest reported closing price of 416.41.
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 6.38%. The projected annual non-GAAP EPS is 15.42.
Martin Marietta Materials Declares $0.74 Dividend
On August 10, 2023 the company declared a regular quarterly dividend of $0.74 per share ($2.96 annualized). Shareholders of record as of September 1, 2023 received the payment on September 29, 2023. Previously, the company paid $0.66 per share.
At the current share price of $416.41 / share, the stock's dividend yield is 0.71%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.81%, 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 0.56 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 0.30%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1504 funds or institutions reporting positions in Martin Marietta Materials. This is an increase of 44 owner(s) or 3.01% in the last quarter. Average portfolio weight of all funds dedicated to MLM is 0.38%, an increase of 14.85%. Total shares owned by institutions decreased in the last three months by 27.81% to 66,697K shares. 
The put/call ratio of MLM is 0.78, indicating a bullish outlook.
What are Other Shareholders Doing?
Aristotle Capital Management holds 3,187K shares representing 5.16% ownership of the company. In it's prior filing, the firm reported owning 3,241K shares, representing a decrease of 1.70%. The firm increased its portfolio allocation in MLM by 23.90% over the last quarter.
Select Equity Group holds 2,866K shares representing 4.64% ownership of the company. In it's prior filing, the firm reported owning 3,387K shares, representing a decrease of 18.18%. The firm increased its portfolio allocation in MLM by 15.08% over the last quarter.
Baillie Gifford holds 2,821K shares representing 4.56% ownership of the company. In it's prior filing, the firm reported owning 2,887K shares, representing a decrease of 2.35%. The firm increased its portfolio allocation in MLM by 19.70% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,938K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 1,922K shares, representing an increase of 0.83%. The firm increased its portfolio allocation in MLM by 20.97% over the last quarter.
Jpmorgan Chase holds 1,861K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 1,868K shares, representing a decrease of 0.33%. The firm increased its portfolio allocation in MLM by 820.69% over the last quarter.
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.
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