Citigroup Has Lowered Expectations for Martin Marietta Materials (NYSE:MLM) Stock Price

Martin Marietta Materials (NYSE:MLM) had its price objective lowered by equities researchers at Citigroup from $701.00 to $600.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Citigroup’s price objective points to a potential upside of 16.07% from the company’s previous close.

Other analysts have also issued research reports about the stock. UBS Group started coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 price objective on the stock. Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. StockNews.com cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective for the company in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their target price for the company from $515.00 to $640.00 in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus price target of $649.54.

Martin Marietta Materials Trading Up 0.0 %

Shares of Martin Marietta Materials stock traded up $0.24 during trading hours on Monday, hitting $516.91. The company’s stock had a trading volume of 185,057 shares, compared to its average volume of 306,664. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $31.59 billion, a PE ratio of 16.11, a P/E/G ratio of 3.74 and a beta of 0.91. The business has a fifty day moving average of $570.99 and a 200 day moving average of $552.33. Martin Marietta Materials has a 1-year low of $485.31 and a 1-year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data 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 net margin of 30.47% and a return on equity of 12.53%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the business earned $6.94 earnings per share. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, equities analysts forecast that Martin Marietta Materials will post 17.58 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MLM. Sanctuary Advisors LLC raised its holdings in shares of Martin Marietta Materials by 18.5% during the third quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company’s stock valued at $4,914,000 after buying an additional 1,286 shares during the last quarter. Kovack Advisors Inc. bought a new position in shares of Martin Marietta Materials in the third quarter worth $734,000. Benjamin Edwards Inc. increased its holdings in shares of Martin Marietta Materials by 2,448.1% during the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock valued at $741,000 after purchasing an additional 1,322 shares during the period. D.A. Davidson & CO. raised its stake in shares of Martin Marietta Materials by 8.5% during the third quarter. D.A. Davidson & CO. now owns 12,936 shares of the construction company’s stock valued at $6,963,000 after purchasing an additional 1,014 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in Martin Marietta Materials by 158.2% in the third quarter. National Bank of Canada FI now owns 43,952 shares of the construction company’s stock worth $23,657,000 after purchasing an additional 26,929 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

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.