Martin Marietta Materials (NYSE:MLM) PT Lowered to $610.00 at Stephens

Martin Marietta Materials (NYSE:MLM) had its price objective decreased by analysts at Stephens from $650.00 to $610.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Stephens’ target price points to a potential upside of 14.33% from the company’s current price.

A number of other brokerages have also recently weighed in on MLM. The Goldman Sachs Group raised their price target on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Citigroup lowered their price target on Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Truist Financial reduced their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, Jefferies Financial Group upped their target price on Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $626.64.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM traded down $5.43 during trading on Friday, reaching $533.55. The company had a trading volume of 666,034 shares, compared to its average volume of 444,337. The firm has a market capitalization of $32.89 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 3.12 and a beta of 0.91. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. Martin Marietta Materials has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The stock’s fifty day moving average price is $552.88 and its 200 day moving average price is $568.97.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, August 8th. The construction company reported $5.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.57 by ($0.31). The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.83 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.60 EPS. As a group, equities research analysts predict that Martin Marietta Materials will post 22.86 EPS for the current year.

Institutional Investors Weigh In On Martin Marietta Materials

A number of institutional investors have recently made changes to their positions in MLM. Vanguard Group Inc. grew its holdings in shares of Martin Marietta Materials by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after purchasing an additional 69,701 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 acquiring an additional 523,038 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Martin Marietta Materials by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock worth $337,903,000 after buying an additional 12,759 shares in the last quarter. Norges Bank acquired a new stake in Martin Marietta Materials in the 4th quarter valued at about $308,705,000. Finally, Bank of New York Mellon Corp lifted its stake in Martin Marietta Materials by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock valued at $252,318,000 after purchasing an additional 11,749 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

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.