Martin Marietta Materials (NYSE:MLM) Raised to “Hold” at StockNews.com

Martin Marietta Materials (NYSE:MLM) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

A number of other equities research analysts have also recently commented on MLM. Stifel Nicolaus cut their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Jefferies Financial Group increased their target price on Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Citigroup cut their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Morgan Stanley increased their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Finally, Truist Financial lowered 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. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $629.82.

Martin Marietta Materials Stock Up 0.8 %

Shares of NYSE MLM traded up $4.26 during mid-day trading on Tuesday, hitting $534.04. 364,978 shares of the stock traded hands, compared to its average volume of 445,594. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86. Martin Marietta Materials has a 52 week low of $389.90 and a 52 week high of $626.67. The company has a market cap of $32.92 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 3.52 and a beta of 0.91. The stock has a fifty day moving average price of $541.39 and a 200-day moving average price of $567.97.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the company posted $5.60 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. Research analysts anticipate that Martin Marietta Materials will post 19.33 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. raised its stake in shares of Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after buying an additional 37 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the second quarter worth about $3,757,000. Clearbridge Investments LLC grew its position in shares of Martin Marietta Materials by 2.2% during the second quarter. Clearbridge Investments LLC now owns 228,775 shares of the construction company’s stock worth $123,950,000 after purchasing an additional 4,939 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Martin Marietta Materials by 41.5% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 28,616 shares of the construction company’s stock worth $15,504,000 after purchasing an additional 8,387 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its position in shares of Martin Marietta Materials by 6.4% during the second quarter. EP Wealth Advisors LLC now owns 1,035 shares of the construction company’s stock worth $561,000 after purchasing an additional 62 shares in 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.