Martin Marietta Materials (NYSE:MLM) Raised to Overweight at JPMorgan Chase & Co.

Martin Marietta Materials (NYSE:MLM) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage currently has a $640.00 target price on the construction company’s stock, up from their previous target price of $515.00. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 7.45% from the company’s current price.

Several other research analysts have also weighed in on MLM. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Jefferies Financial Group dropped their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. UBS Group began coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective for the company. Barclays upped their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Finally, Truist Financial reduced their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $644.46.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $595.60 on Wednesday. Martin Marietta Materials has a 12 month low of $456.83 and a 12 month high of $633.23. The company’s fifty day simple moving average is $570.11 and its 200-day simple moving average is $556.63. The firm has a market cap of $36.40 billion, a PE ratio of 18.56, a P/E/G ratio of 4.10 and a beta of 0.90. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the firm earned $6.94 earnings per share. Equities research analysts expect that Martin Marietta Materials will post 17.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Martin Marietta Materials

A number of large investors have recently added to or reduced their stakes in MLM. Ameritas Advisory Services LLC grew its holdings in shares of Martin Marietta Materials by 2.8% during the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock worth $360,000 after purchasing an additional 18 shares in the last quarter. Inspire Investing LLC raised its position in shares of Martin Marietta Materials by 0.9% in the 3rd quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock valued at $1,144,000 after buying an additional 19 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Martin Marietta Materials by 2.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock worth $421,000 after acquiring an additional 19 shares during the period. Mather Group LLC. boosted its position in shares of Martin Marietta Materials by 13.6% during the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock worth $90,000 after acquiring an additional 20 shares in the last quarter. Finally, TFG Advisers LLC increased its stake in Martin Marietta Materials by 3.7% in the second quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds 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.