Martin Marietta Materials (NYSE:MLM) Downgraded to “Neutral” Rating by JPMorgan Chase & Co.

Martin Marietta Materials (NYSE:MLM) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Wednesday, Marketbeat Ratings reports. They currently have a $560.00 target price on the construction company’s stock, down from their prior target price of $640.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 15.74% from the stock’s current price.

Several other analysts have also commented on the company. Barclays dropped their target price on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Stephens dropped their target price on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. StockNews.com lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Citigroup dropped their target price on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Raymond James dropped their target price on Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $628.64.

Martin Marietta Materials Stock Down 1.3 %

Shares of MLM stock opened at $483.84 on Wednesday. The stock’s 50-day simple moving average is $511.89 and its 200-day simple moving average is $539.58. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The firm has a market capitalization of $29.50 billion, a PE ratio of 14.97, a P/E/G ratio of 4.45 and a beta of 0.89. Martin Marietta Materials has a fifty-two week low of $448.50 and a fifty-two week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Equities analysts expect that Martin Marietta Materials will post 19.53 earnings per share for the current year.

Insider Activity

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the sale, the executive vice president now owns 3,523 shares of the company’s stock, valued at approximately $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael J. Petro purchased 550 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $454.37 per share, with a total value of $249,903.50. Following the acquisition, the senior vice president now owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. The trade was a 6.52 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Martin Marietta Materials

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lee Danner & Bass Inc. acquired a new stake in Martin Marietta Materials during the fourth quarter worth $28,000. Whipplewood Advisors LLC acquired a new stake in Martin Marietta Materials during the fourth quarter worth $32,000. Kestra Investment Management LLC acquired a new stake in Martin Marietta Materials during the fourth quarter worth $35,000. Hopwood Financial Services Inc. acquired a new stake in Martin Marietta Materials during the fourth quarter worth $36,000. Finally, EverSource Wealth Advisors LLC increased its stake in Martin Marietta Materials by 91.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock worth $37,000 after acquiring an additional 34 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.