Martin Marietta Materials (NYSE:MLM) Raised to Hold at StockNews.com

Martin Marietta Materials (NYSE:MLM) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

A number of other analysts have also commented on MLM. Citigroup reduced their target price on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a report on Monday, January 6th. Loop Capital lifted their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. UBS Group started coverage on Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 target price for the company. Morgan Stanley reduced their target price on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Wolfe Research raised Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price for the company in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $643.36.

Martin Marietta Materials Trading Down 1.7 %

MLM opened at $508.54 on Thursday. The stock has a market cap of $31.08 billion, a PE ratio of 15.85, a PEG ratio of 3.74 and a beta of 0.91. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average of $563.58 and a 200-day moving average of $551.17. Martin Marietta Materials has a 52 week low of $489.90 and a 52 week 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 earnings per share 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 the consensus estimate of $1.94 billion. During the same period last year, the business earned $6.94 EPS. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. Equities research analysts predict that Martin Marietta Materials will post 17.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Martin Marietta Materials

Several large investors have recently added to or reduced their stakes in MLM. Principal Financial Group Inc. grew its stake in shares of Martin Marietta Materials by 76.2% during the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after buying an additional 704,460 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Martin Marietta Materials by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after purchasing an additional 506,705 shares in the last quarter. FMR LLC grew its stake in Martin Marietta Materials by 15.3% in the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock worth $1,353,936,000 after purchasing an additional 334,605 shares in the last quarter. Public Sector Pension Investment Board grew its stake in Martin Marietta Materials by 7,608.2% in the third quarter. Public Sector Pension Investment Board now owns 181,373 shares of the construction company’s stock worth $97,624,000 after purchasing an additional 179,020 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in Martin Marietta Materials by 54.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after buying an additional 164,503 shares during the period. 95.04% of the stock is owned by 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.