Martin Marietta Materials (NYSE:MLM) Downgraded by StockNews.com

Martin Marietta Materials (NYSE:MLM) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Other equities analysts have also recently issued research reports about the company. Stephens reduced their target price 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. Morgan Stanley boosted their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Truist Financial lowered their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Jefferies Financial Group increased their target price on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Loop Capital dropped their price objective on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus target price of $629.82.

Martin Marietta Materials Trading Up 0.7 %

MLM stock opened at $539.63 on Wednesday. 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. The company’s 50-day simple moving average is $538.74 and its 200-day simple moving average is $565.39. The firm has a market cap of $32.98 billion, a P/E ratio of 15.99, a PEG ratio of 3.78 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.60). The business had revenue of $1.76 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company earned $5.60 earnings per share. As a group, equities analysts forecast that Martin Marietta Materials will post 19.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Martin Marietta Materials

A number of institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in Martin Marietta Materials by 114.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after purchasing an additional 523,038 shares in the last quarter. Balyasny Asset Management L.P. raised its position in Martin Marietta Materials by 4,244.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company’s stock valued at $138,289,000 after acquiring an additional 270,802 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Martin Marietta Materials by 247.5% in the second quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock worth $80,634,000 after buying an additional 106,002 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Martin Marietta Materials by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock worth $3,577,268,000 after buying an additional 69,701 shares during the last quarter. Finally, M&G Plc bought a new stake in Martin Marietta Materials during the 1st quarter valued at approximately $41,142,000. Institutional investors and hedge funds 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.