Stifel Nicolaus Lowers Martin Marietta Materials (NYSE:MLM) Price Target to $630.00

Martin Marietta Materials (NYSE:MLM) had its price objective dropped by analysts at Stifel Nicolaus from $650.00 to $630.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 18.13% from the company’s current price.

Other analysts also recently issued research reports about the stock. Truist Financial lifted their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Wolfe Research lowered Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. The Goldman Sachs Group lifted their target price on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Citigroup raised their price objective on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $610.25.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $533.32 on Wednesday. The business’s fifty day simple moving average is $569.49 and its 200-day simple moving average is $557.45. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. The firm has a market cap of $32.87 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 2.37 and a beta of 0.91. 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 earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.05. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. Martin Marietta Materials’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.16 earnings per share. Equities analysts forecast that Martin Marietta Materials will post 23.1 earnings per share for the current year.

Hedge Funds Weigh In On Martin Marietta Materials

Several large investors have recently bought and sold shares of MLM. Vanguard Group Inc. boosted its position in shares of Martin Marietta Materials by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock worth $3,577,268,000 after acquiring an additional 69,701 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Martin Marietta Materials by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company’s stock valued at $838,421,000 after purchasing an additional 181,136 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Martin Marietta Materials by 114.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after purchasing an additional 523,038 shares during the last quarter. Norges Bank acquired a new stake in Martin Marietta Materials during the fourth quarter worth approximately $308,705,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Martin Marietta Materials by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 615,396 shares of the construction company’s stock worth $307,026,000 after buying an additional 27,775 shares during the last quarter. Hedge funds and other 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.