Loop Capital Increases Martin Marietta Materials (NYSE:MLM) Price Target to $680.00

Martin Marietta Materials (NYSE:MLM) had its target price increased by investment analysts at Loop Capital from $600.00 to $680.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Loop Capital’s target price points to a potential upside of 17.21% from the company’s previous close.

MLM has been the topic of a number of other reports. Stifel Nicolaus reduced their target price on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Truist Financial lowered their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Jefferies Financial Group cut their price target on 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. Finally, JPMorgan Chase & Co. lowered their price objective on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus price target of $626.92.

Martin Marietta Materials Stock Down 2.1 %

NYSE MLM opened at $580.14 on Thursday. The stock’s 50 day simple moving average is $541.37 and its 200 day simple moving average is $556.24. Martin Marietta Materials has a one year low of $438.53 and a one year high of $626.67. The firm has a market cap of $35.46 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 5.11 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 0.94.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $6.94 EPS. Martin Marietta Materials’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, sell-side analysts forecast that Martin Marietta Materials will post 18.61 earnings per share for the current fiscal year.

Institutional Trading of Martin Marietta Materials

A number of large investors have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. increased its holdings 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 acquiring an additional 37 shares in the last quarter. Asset Dedication LLC increased its stake in Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares in the last quarter. First Personal Financial Services acquired a new stake in Martin Marietta Materials during the 3rd quarter worth approximately $33,000. Fortitude Family Office LLC lifted its stake in Martin Marietta Materials by 186.4% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after buying an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new position in Martin Marietta Materials in the first quarter valued at approximately $41,000. 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.