Martin Marietta Materials (NYSE:MLM) PT Lowered to $646.00 at Citigroup

Martin Marietta Materials (NYSE:MLM) had its target price cut by Citigroup from $658.00 to $646.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Citigroup’s price objective points to a potential upside of 22.57% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. Jefferies Financial Group boosted their price target on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Stifel Nicolaus dropped 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 report on Wednesday, July 3rd. Truist Financial dropped their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, The Goldman Sachs Group upped their target price on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $624.18.

Martin Marietta Materials Trading Up 0.4 %

Shares of NYSE:MLM opened at $527.05 on Monday. The company’s 50-day moving average price is $552.11 and its two-hundred day moving average price is $569.63. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. Martin Marietta Materials has a one year low of $389.90 and a one year high of $626.67. The stock has a market capitalization of $32.49 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 3.12 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the firm earned $5.60 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities analysts forecast that Martin Marietta Materials will post 22.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MLM. International Assets Investment Management LLC grew its position in shares of Martin Marietta Materials by 49,790.8% during the 4th quarter. International Assets Investment Management LLC now owns 59,869 shares of the construction company’s stock worth $29,869,000 after purchasing an additional 59,749 shares in the last quarter. Cerity Partners LLC grew its position in shares of Martin Marietta Materials by 199.8% during the 4th quarter. Cerity Partners LLC now owns 4,791 shares of the construction company’s stock worth $2,390,000 after purchasing an additional 3,193 shares in the last quarter. Simplicity Solutions LLC grew its position in shares of Martin Marietta Materials by 166.1% during the 4th quarter. Simplicity Solutions LLC now owns 2,725 shares of the construction company’s stock worth $1,360,000 after purchasing an additional 1,701 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $1,846,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Martin Marietta Materials by 0.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 147,889 shares of the construction company’s stock worth $73,783,000 after purchasing an additional 568 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

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.