Martin Marietta Materials (NYSE:MLM) Price Target Cut to $610.00 by Analysts at Truist Financial

Martin Marietta Materials (NYSE:MLM) had its price objective reduced by Truist Financial from $670.00 to $610.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Truist Financial’s price objective would indicate a potential upside of 17.14% from the company’s current price.

MLM has been the subject of several other research reports. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price target for the company in a research report on Wednesday, January 8th. Citigroup cut their target price on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Barclays decreased their price target on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday. UBS Group initiated coverage on Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 price objective for the company. Finally, Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $641.21.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $520.76 on Thursday. The firm has a market capitalization of $31.83 billion, a PE ratio of 16.23, a PEG ratio of 4.62 and a beta of 0.91. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. Martin Marietta Materials has a 1-year low of $482.72 and a 1-year high of $633.23. The business’s 50 day moving average is $538.08 and its 200-day moving average is $549.88.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Sell-side analysts predict that Martin Marietta Materials will post 17.57 earnings per share for the current year.

Hedge Funds Weigh In On Martin Marietta Materials

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lee Danner & Bass Inc. acquired a new position in shares of Martin Marietta Materials in the 4th quarter valued at $28,000. Asset Dedication LLC increased its holdings in Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. First Personal Financial Services acquired a new position in Martin Marietta Materials in the third quarter valued at about $33,000. Whipplewood Advisors LLC bought a new position in Martin Marietta Materials during the fourth quarter worth about $32,000. Finally, Kestra Investment Management LLC bought a new position in Martin Marietta Materials during the fourth quarter worth about $35,000. 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.