Martin Marietta Materials (NYSE:MLM) Price Target Lowered to $650.00 at Stephens

Martin Marietta Materials (NYSE:MLM) had its price objective lowered by Stephens from $675.00 to $650.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

MLM has been the subject of a number of other reports. Truist Financial decreased their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday. BNP Paribas lowered Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Citigroup decreased their price objective on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a report on Monday, January 6th. HSBC raised 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. Finally, Raymond James decreased their price objective on Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $639.43.

Martin Marietta Materials Stock Up 2.8 %

Shares of Martin Marietta Materials stock opened at $531.75 on Thursday. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The business’s 50 day simple moving average is $536.78 and its 200-day simple moving average is $549.65. The stock has a market capitalization of $32.50 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 4.62 and a beta of 0.91. Martin Marietta Materials has a twelve month low of $482.72 and a twelve month high of $633.23.

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

Institutional Investors Weigh In On Martin Marietta Materials

Several large investors have recently modified their holdings of MLM. Proficio Capital Partners LLC boosted its stake in shares of Martin Marietta Materials by 54,277.3% during the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock worth $474,370,000 after acquiring an additional 916,743 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Martin Marietta Materials by 76.2% during the 3rd 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. Norges Bank bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth $306,863,000. JPMorgan Chase & Co. boosted its stake in shares of Martin Marietta Materials by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after acquiring an additional 506,705 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth $196,374,000. 95.04% of the stock is owned by institutional investors.

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.