Martin Marietta Materials (NYSE:MLM) Reaches New 1-Year Low – Here’s Why

Martin Marietta Materials, Inc. (NYSE:MLM)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $482.72 and last traded at $507.81, with a volume of 73634 shares changing hands. The stock had previously closed at $529.00.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. UBS Group started coverage on Martin Marietta Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $730.00 target price on the stock. BNP Paribas downgraded Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Raymond James lowered their target price on Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, January 16th. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $515.00 to $640.00 in a research report on Wednesday, November 27th. Finally, HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target on the stock in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $648.71.

Martin Marietta Materials Stock Down 3.1 %

The firm’s fifty day simple moving average is $539.25 and its 200 day simple moving average is $550.13. 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 company has a market cap of $31.33 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 4.62 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS 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, Inc. will post 17.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MLM. Lee Danner & Bass Inc. purchased a new stake in Martin Marietta Materials during the fourth quarter worth approximately $28,000. Asset Dedication LLC increased its stake 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. Whipplewood Advisors LLC acquired a new stake in Martin Marietta Materials during the fourth quarter worth approximately $32,000. First Personal Financial Services purchased a new stake in shares of Martin Marietta Materials during the 3rd quarter worth approximately $33,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth approximately $35,000. Hedge funds and other 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.