Martin Marietta Materials (NYSE:MLM) Upgraded at StockNews.com

Martin Marietta Materials (NYSE:MLM) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

A number of other research firms have also recently commented on MLM. Truist Financial lowered their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Jefferies Financial Group dropped their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Morgan Stanley upped their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Finally, Citigroup decreased their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $634.85.

Martin Marietta Materials Stock Up 0.4 %

Martin Marietta Materials stock traded up $2.39 during midday trading on Friday, hitting $619.55. 402,753 shares of the stock were exchanged, compared to its average volume of 466,622. Martin Marietta Materials has a 52-week low of $448.73 and a 52-week high of $633.23. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $549.06 and its 200-day moving average price is $556.83. The stock has a market capitalization of $37.87 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 4.12 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. Martin Marietta Materials’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.94 EPS. On average, research analysts expect that Martin Marietta Materials will post 17.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Martin Marietta Materials

Several large investors have recently added to or reduced their stakes in MLM. Principal Financial Group Inc. grew its position in Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after acquiring an additional 704,460 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Martin Marietta Materials by 114.3% in the 1st 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. Dimensional Fund Advisors LP increased its position in shares of Martin Marietta Materials by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock valued at $337,903,000 after purchasing an additional 12,759 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Martin Marietta Materials by 54.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after buying an additional 164,503 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Martin Marietta Materials by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after buying an additional 11,749 shares during the last quarter. 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.