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

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

MLM has been the topic of several other reports. Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Citigroup cut their price target on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Morgan Stanley cut their price target on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $515.00 to $640.00 in a research report on Wednesday, November 27th. Finally, Loop Capital increased their price target on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $643.36.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $508.54 on Thursday. Martin Marietta Materials has a 12 month low of $489.90 and a 12 month high of $633.23. The stock has a fifty day moving average price of $563.58 and a 200-day moving average price of $551.17. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The firm has a market cap of $31.08 billion, a PE ratio of 15.85, a P/E/G ratio of 3.74 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the company posted $6.94 EPS. The business’s revenue for the quarter 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 Trading of Martin Marietta Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. raised its position in Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after purchasing an additional 37 shares during the period. Asset Dedication LLC raised its position 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 period. First Personal Financial Services purchased a new stake in Martin Marietta Materials in the third quarter valued at approximately $33,000. Larson Financial Group LLC purchased a new stake in Martin Marietta Materials in the third quarter valued at approximately $49,000. Finally, Tobam raised its position in Martin Marietta Materials by 38.8% in the third quarter. Tobam now owns 93 shares of the construction company’s stock valued at $50,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

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.