Martin Marietta Materials (NYSE:MLM) PT Raised to $657.00

Martin Marietta Materials (NYSE:MLM) had its target price increased by stock analysts at Morgan Stanley from $610.00 to $657.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Morgan Stanley’s target price points to a potential upside of 26.69% from the company’s previous close.

MLM has been the topic of a number of other research reports. Stifel Nicolaus reduced their price objective on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, August 20th. Citigroup reduced their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Truist Financial dropped their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Stephens lowered their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $629.82.

Martin Marietta Materials Trading Down 4.6 %

Shares of Martin Marietta Materials stock opened at $518.57 on Monday. The stock has a market cap of $31.96 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 3.12 and a beta of 0.91. The firm has a fifty day moving average price of $547.34 and a 200 day moving average price of $571.21. Martin Marietta Materials has a 1 year low of $389.90 and a 1 year high of $626.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.60). The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. Martin Marietta Materials’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the firm earned $5.60 earnings per share. Equities research analysts predict that Martin Marietta Materials will post 22.86 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Martin Marietta Materials by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock worth $3,577,268,000 after purchasing an additional 69,701 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Martin Marietta Materials by 114.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after buying an additional 523,038 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Martin Marietta Materials by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock valued at $337,903,000 after buying an additional 12,759 shares during the last quarter. Norges Bank acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at approximately $308,705,000. Finally, Bank of New York Mellon Corp grew its position in shares of Martin Marietta Materials by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after acquiring an additional 11,749 shares during the last quarter. Hedge funds and other 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.