Martin Marietta Materials (NYSE:MLM) PT Lowered to $630.00

Martin Marietta Materials (NYSE:MLM) had its price target lowered by equities research analysts at Loop Capital from $710.00 to $630.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Loop Capital’s target price indicates a potential upside of 18.13% from the company’s current price.

A number of other analysts have also weighed in on the stock. Citigroup upped their price target on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Wolfe Research lowered Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Truist Financial boosted their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group raised their target price on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Stifel Nicolaus dropped their price target on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $610.25.

Martin Marietta Materials Stock Down 0.3 %

MLM opened at $533.32 on Wednesday. The stock’s 50 day moving average price is $569.49 and its 200 day moving average price is $557.45. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. The stock has a market cap of $32.87 billion, a P/E ratio of 15.80, a P/E/G ratio of 2.37 and a beta of 0.91. Martin Marietta Materials has a 12 month low of $389.90 and a 12 month high of $626.67.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the company earned $2.16 earnings per share. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. As a group, research analysts predict that Martin Marietta Materials will post 23.1 earnings per share for the current year.

Institutional Investors Weigh In On Martin Marietta Materials

A number of large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Martin Marietta Materials during the 4th quarter worth approximately $308,705,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Martin Marietta Materials by 114.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after buying an additional 523,038 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Martin Marietta Materials by 4,244.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company’s stock valued at $138,289,000 after buying an additional 270,802 shares in the last quarter. JPMorgan Chase & Co. raised its position in Martin Marietta Materials by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company’s stock valued at $838,421,000 after buying an additional 181,136 shares during the period. Finally, Corient Private Wealth LLC boosted its position in Martin Marietta Materials by 306.8% during the 4th quarter. Corient Private Wealth LLC now owns 161,690 shares of the construction company’s stock worth $80,668,000 after acquiring an additional 121,941 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

About Martin Marietta Materials

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.