Stephens Issues Pessimistic Forecast for Martin Marietta Materials (NYSE:MLM) Stock Price

Martin Marietta Materials (NYSE:MLM) had its price target decreased by equities researchers at Stephens from $675.00 to $650.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Stephens’ target price indicates a potential upside of 23.23% from the stock’s current price.

Several other research analysts have also recently weighed in on MLM. BNP Paribas cut Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Barclays reduced their price objective on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday. Truist Financial reduced their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research report on Thursday. Loop Capital upped their price objective 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. Finally, Raymond James reduced their price objective on Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $639.43.

Martin Marietta Materials Stock Down 0.8 %

MLM stock opened at $527.47 on Thursday. Martin Marietta Materials has a 1-year low of $482.72 and a 1-year high of $633.23. The business has a fifty day moving average price of $535.77 and a 200-day moving average price of $549.52. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The stock has a market capitalization of $32.24 billion, a P/E ratio of 16.44, a P/E/G ratio of 4.62 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping 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%. Equities analysts forecast that Martin Marietta Materials will post 17.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Martin Marietta Materials

A number of hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC boosted its stake in shares of Martin Marietta Materials by 2.5% in the third 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. Checchi Capital Advisers LLC boosted its stake in shares of Martin Marietta Materials by 1.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock worth $690,000 after acquiring an additional 19 shares during the period. OneDigital Investment Advisors LLC boosted its stake in shares of Martin Marietta Materials by 1.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company’s stock worth $527,000 after acquiring an additional 19 shares during the period. iA Global Asset Management Inc. boosted its stake in shares of Martin Marietta Materials by 3.6% in the third quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock worth $307,000 after acquiring an additional 20 shares during the period. Finally, Brooklyn Investment Group boosted its stake in shares of Martin Marietta Materials by 4.7% in the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock worth $231,000 after acquiring an additional 20 shares during the period. 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.