StockNews.com Upgrades Martin Marietta Materials (NYSE:MLM) to “Hold”

Martin Marietta Materials (NYSE:MLM) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

Several other analysts have also recently commented on the company. Citigroup reduced their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Jefferies Financial Group decreased 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 report on Wednesday, October 9th. UBS Group began coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 target price on the stock. Truist Financial decreased their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Morgan Stanley boosted their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $644.46.

Martin Marietta Materials Trading Down 0.7 %

Shares of NYSE MLM opened at $588.86 on Monday. The firm has a 50 day moving average price of $573.20 and a two-hundred day moving average price of $555.97. The stock has a market cap of $35.99 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 4.02 and a beta of 0.89. Martin Marietta Materials has a 52-week low of $456.83 and a 52-week high of $633.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34.

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). The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.94 earnings per share. As a group, equities analysts forecast that Martin Marietta Materials will post 17.58 EPS for the current year.

Institutional Investors Weigh In On Martin Marietta Materials

Several institutional investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. boosted its holdings in Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after acquiring an additional 37 shares during the last quarter. Asset Dedication LLC boosted its holdings in Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares during the last quarter. First Personal Financial Services bought a new stake in Martin Marietta Materials in the 3rd quarter worth about $33,000. Fortitude Family Office LLC increased its stake in Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after buying an additional 41 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Martin Marietta Materials during the 2nd quarter worth approximately $43,000. Institutional investors 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.