Martin Marietta Materials (NYSE:MLM) PT Raised to $645.00

Martin Marietta Materials (NYSE:MLM) had its price target hoisted by investment analysts at Barclays from $595.00 to $645.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. Barclays‘s price target points to a potential upside of 12.80% from the company’s previous close.

Several other analysts also recently issued reports on the company. Stifel Nicolaus decreased their price target on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Loop Capital decreased their price target on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Truist Financial decreased their price target 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. BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Citigroup decreased their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $621.50.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock traded down $6.48 during trading on Tuesday, hitting $571.79. The stock had a trading volume of 8,428 shares, compared to its average volume of 438,350. Martin Marietta Materials has a fifty-two week low of $398.59 and a fifty-two week high of $626.67. The firm has a market cap of $35.25 billion, a P/E ratio of 16.94, a PEG ratio of 4.62 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. The business has a fifty day moving average of $537.67 and a two-hundred day moving average of $555.91.

Martin Marietta Materials (NYSE:MLM) last announced its 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 net margin of 30.80% and a return on equity of 13.85%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the company earned $5.60 earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, sell-side analysts expect that Martin Marietta Materials will post 19.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Martin Marietta Materials

Hedge funds and other institutional investors have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. boosted its position in shares of Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after purchasing an additional 37 shares during the last quarter. Asset Dedication LLC boosted its position in shares of Martin Marietta Materials by 1,300.0% in 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 during the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials in the 1st quarter worth $31,000. Fortitude Family Office LLC boosted its position in shares of Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after purchasing an additional 41 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at about $41,000. 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.