Wolfe Research Upgrades Martin Marietta Materials (NYSE:MLM) to “Outperform”

Martin Marietta Materials (NYSE:MLM) was upgraded by research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a note issued to investors on Wednesday, MarketBeat reports. The firm presently has a $563.00 price objective on the construction company’s stock. Wolfe Research’s price objective would indicate a potential upside of 8.83% from the company’s previous close.

Several other brokerages also recently issued reports on MLM. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective on the stock in a research note on Wednesday, December 11th. Citigroup decreased their price objective on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a report on Monday. Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. StockNews.com lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Finally, Jefferies Financial Group dropped their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus target price of $643.36.

Martin Marietta Materials Price Performance

MLM stock opened at $517.31 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The stock’s 50 day moving average price is $566.52 and its 200 day moving average price is $551.64. The firm has a market cap of $31.62 billion, a P/E ratio of 16.12, a PEG ratio of 3.74 and a beta of 0.91. Martin Marietta Materials has a 1 year low of $488.30 and a 1 year high of $633.23.

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

Institutional Investors Weigh In On Martin Marietta Materials

Hedge funds have recently modified their holdings of the stock. Inspire Investing LLC grew its position in Martin Marietta Materials by 0.9% in the third quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock valued at $1,144,000 after acquiring an additional 19 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in Martin Marietta Materials by 2.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock valued at $421,000 after purchasing an additional 19 shares in the last quarter. Meiji Yasuda Life Insurance Co increased its stake in Martin Marietta Materials by 3.0% during 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 period. iA Global Asset Management Inc. lifted its holdings in Martin Marietta Materials by 3.6% in the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock worth $307,000 after buying an additional 20 shares in the last quarter. Finally, Financial Counselors Inc. boosted its position in Martin Marietta Materials by 1.9% in the 3rd quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company’s stock valued at $604,000 after buying an additional 21 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

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.