StockNews.com Lowers Martin Marietta Materials (NYSE:MLM) to Sell

StockNews.com cut shares of Martin Marietta Materials (NYSE:MLM) from a hold rating to a sell rating in a research report released on Monday.

A number of other research analysts also recently issued reports on the company. Truist Financial cut their price target on Martin Marietta Materials from $700.00 to $670.00 and set a buy rating on the stock in a report on Friday, August 9th. The Goldman Sachs Group boosted their target price on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Stifel Nicolaus lowered their price target on shares of Martin Marietta Materials from $650.00 to $630.00 and set a buy rating on the stock in a report on Wednesday, July 3rd. Loop Capital cut their price objective on shares of Martin Marietta Materials from $710.00 to $630.00 and set a buy rating on the stock in a research report on Wednesday, July 3rd. Finally, Citigroup decreased their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a buy rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $624.18.

Martin Marietta Materials Stock Up 2.7 %

Shares of Martin Marietta Materials stock opened at $539.80 on Monday. Martin Marietta Materials has a 1 year low of $389.90 and a 1 year high of $626.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. The stock has a market cap of $33.27 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 3.12 and a beta of 0.91. The firm’s 50-day moving average is $550.65 and its two-hundred day moving average is $569.30.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.83 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 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.60 earnings per share. As a group, research analysts expect that Martin Marietta Materials will post 22.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Martin Marietta Materials during the fourth quarter valued at $25,000. Riverview Trust Co purchased a new position in shares of Martin Marietta Materials in the first quarter worth about $26,000. Benjamin Edwards Inc. raised its stake in shares of Martin Marietta Materials by 78.8% in the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. Oliver Lagore Vanvalin Investment Group lifted its holdings in shares of Martin Marietta Materials by 74.3% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company’s stock worth $30,000 after purchasing an additional 26 shares during the period. Finally, Redmont Wealth Advisors LLC purchased a new stake in Martin Marietta Materials in the first quarter valued at approximately $31,000. 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.