Truist Financial Cuts Martin Marietta Materials (NYSE:MLM) Price Target to $610.00

Martin Marietta Materials (NYSE:MLM) had its price target lowered by research analysts at Truist Financial from $670.00 to $610.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Truist Financial’s price objective suggests a potential upside of 17.14% from the company’s previous close.

MLM has been the subject of several other research reports. StockNews.com cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, February 8th. Loop Capital raised their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. HSBC raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price on the stock in a research note on Wednesday, December 11th. Morgan Stanley reduced their price target on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, Raymond James lowered their price objective on shares of Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $641.21.

Martin Marietta Materials Price Performance

NYSE MLM opened at $520.76 on Thursday. Martin Marietta Materials has a 12 month low of $482.72 and a 12 month high of $633.23. The firm has a market capitalization of $31.83 billion, a PE ratio of 16.23, a P/E/G ratio of 4.62 and a beta of 0.91. The company’s 50 day simple moving average is $538.08 and its 200 day simple moving average is $549.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. As a group, equities research analysts forecast that Martin Marietta Materials will post 17.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Martin Marietta Materials

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Martin Marietta Materials by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company’s stock valued at $3,705,466,000 after buying an additional 36,531 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Martin Marietta Materials by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after acquiring an additional 506,705 shares during the last quarter. FMR LLC increased its position in Martin Marietta Materials by 15.3% during the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock worth $1,353,936,000 after acquiring an additional 334,605 shares during the period. Principal Financial Group Inc. increased its position in Martin Marietta Materials by 11.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company’s stock worth $939,898,000 after acquiring an additional 191,043 shares during the period. Finally, Amundi raised its stake in Martin Marietta Materials by 10.5% during the 4th quarter. Amundi now owns 1,562,146 shares of the construction company’s stock valued at $808,005,000 after purchasing an additional 148,065 shares during the last quarter. Institutional investors and hedge funds 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.