Martin Marietta Materials (NYSE:MLM) Upgraded at StockNews.com

Martin Marietta Materials (NYSE:MLM) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

A number of other equities research analysts have also weighed in on the company. Jefferies Financial Group reduced their price objective on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Barclays upped their price objective on Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Citigroup cut their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and upped their price target for the company from $515.00 to $640.00 in a research report on Wednesday, November 27th. Finally, Truist Financial cut their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $644.46.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock traded down $6.78 during midday trading on Monday, reaching $593.22. The company’s stock had a trading volume of 342,721 shares, compared to its average volume of 445,870. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The stock has a market cap of $36.26 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 4.07 and a beta of 0.90. Martin Marietta Materials has a 52 week low of $456.83 and a 52 week high of $633.23. The business has a 50-day moving average price of $572.14 and a 200-day moving average price of $555.91.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. Martin Marietta Materials’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.94 earnings per share. On average, sell-side analysts predict that Martin Marietta Materials will post 17.58 EPS for the current year.

Institutional Investors Weigh In On Martin Marietta Materials

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC grew its holdings in Martin Marietta Materials by 2.8% in the second quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock worth $360,000 after purchasing an additional 18 shares during the period. Inspire Investing LLC grew its stake in shares of Martin Marietta Materials by 0.9% in the 3rd quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock valued at $1,144,000 after buying an additional 19 shares during the period. Integrated Wealth Concepts LLC increased its position in Martin Marietta Materials by 2.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock valued at $421,000 after buying an additional 19 shares in the last quarter. Mather Group LLC. boosted its holdings in Martin Marietta Materials by 13.6% in the second quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock worth $90,000 after acquiring an additional 20 shares in the last quarter. Finally, TFG Advisers LLC increased its holdings in shares of Martin Marietta Materials by 3.7% during the second quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

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.