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

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

A number of other research analysts also recently weighed in on the stock. Stephens decreased their price objective on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Truist Financial reduced their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Barclays upped their price target on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Loop Capital upped their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.85.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock traded up $6.61 during trading hours on Thursday, reaching $591.87. The stock had a trading volume of 245,138 shares, compared to its average volume of 446,211. The stock’s 50 day moving average is $562.13 and its 200 day moving average is $556.52. The firm has a market capitalization of $36.18 billion, a PE ratio of 18.44, a PEG ratio of 3.89 and a beta of 0.90. Martin Marietta Materials has a twelve month low of $456.83 and a twelve month high of $633.23. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last issued 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 firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company’s revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the company posted $6.94 EPS. Equities analysts expect that Martin Marietta Materials will post 17.84 earnings per share for the current fiscal year.

Institutional Trading of Martin Marietta Materials

Several hedge funds have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC lifted its holdings in shares of Martin Marietta Materials by 35.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,843 shares of the construction company’s stock worth $2,359,000 after acquiring an additional 1,003 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Martin Marietta Materials by 7.3% in the 1st quarter. Bessemer Group Inc. now owns 4,670 shares of the construction company’s stock valued at $2,868,000 after purchasing an additional 319 shares in the last quarter. Lake Street Advisors Group LLC acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at $276,000. Pitcairn Co. raised its holdings in shares of Martin Marietta Materials by 5.0% in the 1st quarter. Pitcairn Co. now owns 442 shares of the construction company’s stock valued at $271,000 after purchasing an additional 21 shares in the last quarter. Finally, CreativeOne Wealth LLC acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at $204,000. 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.