Martin Marietta Materials (NYSE:MLM) Rating Increased 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 research note issued to investors on Tuesday.

MLM has been the topic of several other research reports. Stifel Nicolaus dropped their price target on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Jefferies Financial Group upped their target price on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Stephens reduced their price target 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. Loop Capital dropped their price objective on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, Truist Financial reduced their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $629.82.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $534.01 on Tuesday. The company has a 50 day moving average price of $541.16 and a 200 day moving average price of $567.73. The firm has a market capitalization of $32.92 billion, a P/E ratio of 15.82, a PEG ratio of 3.52 and a beta of 0.91. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. Martin Marietta Materials has a 52 week low of $389.90 and a 52 week high of $626.67.

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

Institutional Investors Weigh In On Martin Marietta Materials

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $25,000. Newbridge Financial Services Group Inc. increased its position in shares of Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after acquiring an additional 37 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Martin Marietta Materials in the 1st quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials in the 1st quarter worth approximately $31,000. Finally, Fortitude Family Office LLC boosted its position in shares of Martin Marietta Materials by 186.4% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after purchasing an additional 41 shares during the period. Hedge funds and other 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.