Barclays Cuts Martin Marietta Materials (NYSE:MLM) Price Target to $600.00

Martin Marietta Materials (NYSE:MLM) had its target price cut by Barclays from $645.00 to $600.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Several other equities analysts have also recently weighed in on the company. Loop Capital lifted their price target on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Wolfe Research upgraded Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective for the company in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average target price of $639.43.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $527.47 on Thursday. The firm has a market cap of $32.24 billion, a PE ratio of 16.44, a PEG ratio of 4.62 and a beta of 0.91. The stock’s fifty day moving average price is $534.69 and its two-hundred day moving average price is $548.93. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. Martin Marietta Materials has a 1 year low of $482.72 and a 1 year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. On average, equities research analysts forecast that Martin Marietta Materials will post 17.57 EPS for the current year.

Institutional Trading of Martin Marietta Materials

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Street Advisors Inc. NC boosted its stake in Martin Marietta Materials by 15.5% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company’s stock valued at $13,037,000 after purchasing an additional 3,384 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in Martin Marietta Materials by 18.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company’s stock worth $4,914,000 after purchasing an additional 1,286 shares during the period. RMR Wealth Builders raised its holdings in Martin Marietta Materials by 431.3% during the fourth quarter. RMR Wealth Builders now owns 2,391 shares of the construction company’s stock valued at $1,235,000 after acquiring an additional 1,941 shares during the period. Kovack Advisors Inc. bought a new stake in Martin Marietta Materials during the third quarter valued at about $734,000. Finally, Benjamin Edwards Inc. grew its position in shares of Martin Marietta Materials by 2,448.1% during the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock valued at $741,000 after purchasing an additional 1,322 shares in the last quarter. 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.