Barclays Lowers Martin Marietta Materials (NYSE:MLM) Price Target to $600.00

Martin Marietta Materials (NYSE:MLM) had its price target cut by investment analysts at Barclays from $645.00 to $600.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Barclays‘s price target would suggest a potential upside of 13.75% from the stock’s previous close.

A number of other research analysts have also commented on the company. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and raised their price target for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. Citigroup lowered their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. UBS Group began coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $730.00 price target for the company. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday, February 8th. Finally, Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $639.43.

Martin Marietta Materials Price Performance

NYSE MLM opened at $527.47 on Thursday. The company has a 50-day moving average price of $535.77 and a two-hundred day moving average price of $549.52. The stock has a market cap of $32.24 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 4.62 and a beta of 0.91. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. Martin Marietta Materials has a 52 week low of $482.72 and a 52 week high of $633.23.

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

Hedge Funds Weigh In On Martin Marietta Materials

A number of hedge funds and other institutional investors have recently modified their holdings of MLM. Integrated Wealth Concepts LLC boosted its holdings in shares of Martin Marietta Materials by 2.5% in the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock worth $421,000 after buying an additional 19 shares during the period. Checchi Capital Advisers LLC lifted its position in shares of Martin Marietta Materials by 1.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock valued at $690,000 after acquiring an additional 19 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in Martin Marietta Materials by 1.9% in the 4th quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company’s stock worth $527,000 after purchasing an additional 19 shares during the period. iA Global Asset Management Inc. grew its position in Martin Marietta Materials by 3.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock worth $307,000 after purchasing an additional 20 shares in the last quarter. Finally, Brooklyn Investment Group raised its stake in Martin Marietta Materials by 4.7% during the 4th quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock valued at $231,000 after purchasing an additional 20 shares during the period. 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.