Martin Marietta Materials (NYSE:MLM) Stock Gets Price Target Trim from B. Riley Financial

by · The Markets Daily

Martin Marietta Materials (NYSE:MLM – Free Report) had its target price cut by B. Riley Financial from $700.00 to $615.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other brokerages have also issued reports on MLM. Wolfe Research set a $648.00 price target on Martin Marietta Materials in a research report on Tuesday, August 4th. Wells Fargo & Company raised their price target on Martin Marietta Materials from $579.00 to $589.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. Stifel Nicolaus cut their price objective on shares of Martin Marietta Materials from $634.00 to $629.00 and set a “buy” rating on the stock in a research note on Wednesday, October 28th. Truist Financial reduced their price objective on shares of Martin Marietta Materials from $730.00 to $625.00 and set a “buy” rating for the company in a report on Monday, October 5th. Finally, Wall Street Zen lowered shares of Martin Marietta Materials from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 7th. Fifteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.75.

View Our Latest Research Report on Martin Marietta Materials

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $517.80 on Tuesday. The firm’s 50 day moving average is $503.56 and its two-hundred day moving average is $570.95. Martin Marietta Materials has a 52 week low of $464.92 and a 52 week high of $710.97. The firm has a market capitalization of $36.83 billion, a P/E ratio of 32.25, a PEG ratio of 2.89 and a beta of 1.02. The company has a current ratio of 1.63, a quick ratio of 0.91 and a debt-to-equity ratio of 0.69.

Martin Marietta Materials (NYSE:MLM – Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The construction company reported $5.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.99 by ($0.52). Martin Marietta Materials had a return on equity of 7.96% and a net margin of 31.88%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the firm posted $6.85 earnings per share. The business’s quarterly revenue was up 28.3% on a year-over-year basis. Analysts anticipate that Martin Marietta Materials will post 15.30 earnings per share for the current year.

Institutional Investors Weigh In On Martin Marietta Materials

Institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its position in shares of Martin Marietta Materials by 67.9% during the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after purchasing an additional 19 shares during the period. CoreCap Advisors LLC lifted its holdings in shares of Martin Marietta Materials by 370.0% in the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock valued at $27,000 after buying an additional 37 shares during the period. Activest Wealth Management lifted its holdings in shares of Martin Marietta Materials by 1,633.3% in the third quarter. Activest Wealth Management now owns 52 shares of the construction company’s stock valued at $25,000 after buying an additional 49 shares during the period. WestEnd Advisors LLC lifted its holdings in shares of Martin Marietta Materials by 1,900.0% in the third quarter. WestEnd Advisors LLC now owns 60 shares of the construction company’s stock valued at $29,000 after buying an additional 57 shares during the period. Finally, EFG International AG bought a new position in Martin Marietta Materials during the second quarter valued at about $39,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

About Martin Marietta Materials

(Get Free Report)

Martin Marietta Materials, Inc. is a U.S.-based supplier of building materials used in construction and infrastructure projects. Its products include crushed stone, sand and gravel, cement, ready-mixed concrete and asphalt. The company also produces specialty products through its magnesia-based business, including lime, chemicals and products used in industrial and environmental applications. Its construction materials operations serve markets across the United States. Martin Marietta traces its roots to 1939 and has grown through acquisitions and expansion of its materials operations.

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