Martin Marietta Materials (NYSE:MLM) Stock Rating Upgraded by StockNews.com

Martin Marietta Materials (NYSE:MLM) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Monday.

A number of other research analysts also recently issued reports on MLM. Jefferies Financial Group decreased their price objective on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Truist Financial decreased their price target on shares of 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. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. Morgan Stanley increased their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Finally, Stephens lowered their price target on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $644.46.

Martin Marietta Materials Trading Down 1.1 %

Shares of MLM traded down $6.78 during trading hours on Monday, reaching $593.22. The stock had a trading volume of 342,721 shares, compared to its average volume of 445,870. The firm has a 50-day moving average of $572.14 and a 200 day moving average of $555.91. 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 cap of $36.26 billion, a P/E ratio of 18.49, a P/E/G ratio of 4.07 and a beta of 0.90. Martin Marietta Materials has a 52 week low of $456.83 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Martin Marietta Materials’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.94 earnings per share. On average, sell-side analysts expect that Martin Marietta Materials will post 17.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Kovack Advisors Inc. acquired a new stake in Martin Marietta Materials during the third quarter worth approximately $734,000. Peak Financial Advisors LLC bought a new stake in shares of Martin Marietta Materials during the 2nd quarter valued at $2,710,000. Bank of New York Mellon Corp grew its holdings in shares of Martin Marietta Materials by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after purchasing an additional 11,749 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Martin Marietta Materials by 8.5% in the third quarter. D.A. Davidson & CO. now owns 12,936 shares of the construction company’s stock worth $6,963,000 after purchasing an additional 1,014 shares during the period. Finally, ING Groep NV acquired a new position in Martin Marietta Materials in the third quarter valued at about $1,601,000. 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.