Truist Financial Boosts Martin Marietta Materials (NYSE:MLM) Price Target to $700.00

Martin Marietta Materials (NYSE:MLMGet Free Report) had its price target upped by stock analysts at Truist Financial from $610.00 to $700.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s price objective suggests a potential upside of 17.50% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Raymond James raised their price target on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. The Goldman Sachs Group raised their price target on shares of Martin Marietta Materials from $560.00 to $642.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Morgan Stanley started coverage on shares of Martin Marietta Materials in a report on Monday, January 8th. They issued an “overweight” rating and a $595.00 price target for the company. Citigroup raised their price target on shares of Martin Marietta Materials from $573.00 to $635.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Stifel Nicolaus increased their price objective on shares of Martin Marietta Materials from $510.00 to $598.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $571.77.

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Martin Marietta Materials Stock Down 1.4 %

NYSE:MLM traded down $8.70 during midday trading on Tuesday, reaching $595.72. 23,893 shares of the stock traded hands, compared to its average volume of 396,941. Martin Marietta Materials has a 12-month low of $332.13 and a 12-month high of $617.08. The business has a 50-day moving average of $562.23 and a two-hundred day moving average of $492.71. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.50 and a current ratio of 3.35. The stock has a market capitalization of $36.83 billion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 3.00 and a beta of 0.96.

Martin Marietta Materials (NYSE:MLMGet Free Report) last posted its earnings results on Wednesday, February 14th. The construction company reported $4.63 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.67. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. Martin Marietta Materials’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.04 earnings per share. On average, equities analysts forecast that Martin Marietta Materials will post 21.09 earnings per share for the current fiscal year.

Insider Activity at Martin Marietta Materials

In related news, Director Sue W. Cole sold 1,724 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total value of $936,959.52. Following the completion of the sale, the director now owns 19,793 shares in the company, valued at approximately $10,757,099.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Roselyn R. Bar sold 10,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total value of $6,032,900.00. Following the completion of the sale, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sue W. Cole sold 1,724 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the transaction, the director now owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. Insiders sold a total of 26,724 shares of company stock worth $16,033,760 in the last 90 days. 0.59% of the stock is owned by insiders.

Hedge Funds Weigh In On Martin Marietta Materials

A number of large investors have recently bought and sold shares of MLM. Fairfield Bush & CO. purchased a new position in Martin Marietta Materials during the 1st quarter worth $46,000. Mirae Asset Global Investments Co. Ltd. raised its position in Martin Marietta Materials by 4.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 391,276 shares of the construction company’s stock worth $150,599,000 after buying an additional 15,163 shares during the last quarter. Yousif Capital Management LLC raised its position in Martin Marietta Materials by 0.4% during the 1st quarter. Yousif Capital Management LLC now owns 9,391 shares of the construction company’s stock worth $3,615,000 after buying an additional 40 shares during the last quarter. Prudential PLC purchased a new position in Martin Marietta Materials during the 1st quarter worth $456,000. Finally, Cetera Investment Advisers raised its position in Martin Marietta Materials by 12.8% during the 1st quarter. Cetera Investment Advisers now owns 950 shares of the construction company’s stock worth $366,000 after buying an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Company Profile

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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.

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