Martin Marietta Materials (NYSE:MLM) PT Lowered to $635.00 at Jefferies Financial Group

Martin Marietta Materials (NYSE:MLM) had its target price dropped by analysts at Jefferies Financial Group from $650.00 to $635.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Jefferies Financial Group’s target price points to a potential upside of 19.55% from the stock’s previous close.

Several other equities research analysts have also commented on MLM. StockNews.com lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. Citigroup decreased their target price on 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. Morgan Stanley upped their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Truist Financial decreased their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $619.36.

Martin Marietta Materials Price Performance

NYSE:MLM traded up $7.17 during trading hours on Wednesday, hitting $531.16. The company’s stock had a trading volume of 281,556 shares, compared to its average volume of 446,288. Martin Marietta Materials has a 52-week low of $389.90 and a 52-week high of $626.67. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86. The business’s 50-day moving average is $533.08 and its two-hundred day moving average is $560.63. The company has a market capitalization of $32.74 billion, a PE ratio of 15.74, a PEG ratio of 3.78 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.60 EPS. As a group, research analysts anticipate that Martin Marietta Materials will post 19.33 EPS for the current fiscal year.

Institutional Trading of Martin Marietta Materials

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Advisory Services LLC lifted its stake in shares of Martin Marietta Materials by 2.8% during the 2nd 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. Mather Group LLC. lifted its position in Martin Marietta Materials by 13.6% during the second quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock worth $90,000 after buying an additional 20 shares during the period. TFG Advisers LLC boosted its stake in Martin Marietta Materials by 3.7% in the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock worth $300,000 after buying an additional 20 shares during the last quarter. Meiji Yasuda Life Insurance Co boosted its stake in Martin Marietta Materials by 3.0% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock worth $368,000 after buying an additional 20 shares during the last quarter. Finally, Pitcairn Co. grew its holdings in Martin Marietta Materials by 5.0% in the 1st quarter. Pitcairn Co. now owns 442 shares of the construction company’s stock valued at $271,000 after buying an additional 21 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

About Martin Marietta Materials

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.