Martin Marietta Materials (NYSE:MLM) PT Lowered to $515.00 at JPMorgan Chase & Co.

Martin Marietta Materials (NYSE:MLM) had its target price decreased by analysts at JPMorgan Chase & Co. from $560.00 to $515.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 3.04% from the company’s previous close.

A number of other analysts have also weighed in on MLM. Citigroup lowered their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Truist Financial reduced their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Stephens dropped their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Finally, Stifel Nicolaus reduced their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target of $622.09.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock traded up $7.17 during trading on Wednesday, hitting $531.16. 277,099 shares of the stock were exchanged, compared to its average volume of 446,265. The stock’s fifty day moving average is $533.08 and its 200 day moving average is $560.63. The stock has a market cap of $32.74 billion, a PE ratio of 15.74, a P/E/G ratio of 3.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86. Martin Marietta Materials has a 12 month low of $389.90 and a 12 month high of $626.67.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the company posted $5.60 EPS. The company’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Martin Marietta Materials will post 19.33 EPS for the current year.

Institutional Trading of Martin Marietta Materials

Institutional investors and hedge funds have recently bought and sold shares of the business. Chilton Investment Co. Inc. bought a new position in Martin Marietta Materials during the 4th quarter worth $983,000. Brevan Howard Capital Management LP boosted its stake in shares of Martin Marietta Materials by 49.7% during the fourth quarter. Brevan Howard Capital Management LP now owns 5,672 shares of the construction company’s stock valued at $2,830,000 after purchasing an additional 1,882 shares in the last quarter. Fullerton Fund Management Co Ltd. bought a new stake in Martin Marietta Materials during the 4th quarter worth approximately $3,301,000. Taylor Financial Group Inc. bought a new position in Martin Marietta Materials during the 4th quarter worth $237,000. Finally, V Square Quantitative Management LLC lifted its stake in shares of Martin Marietta Materials by 32.1% in the fourth quarter. V Square Quantitative Management LLC now owns 1,133 shares of the construction company’s stock worth $565,000 after acquiring an additional 275 shares during the period. 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.