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

Martin Marietta Materials (NYSE:MLM) had its price objective dropped by stock analysts at Truist Financial from $670.00 to $610.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Truist Financial’s price target suggests a potential upside of 15.65% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, February 8th. UBS Group assumed coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price target for the company. Morgan Stanley decreased 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. Loop Capital raised their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Barclays decreased their price target on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $639.43.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $527.47 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The stock has a market capitalization of $32.24 billion, a P/E ratio of 16.44, a PEG ratio of 4.62 and a beta of 0.91. The company has a 50 day moving average price of $535.77 and a 200 day moving average price of $549.52. Martin Marietta Materials has a fifty-two week low of $482.72 and a fifty-two week high of $633.23.

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

Institutional Investors Weigh In On Martin Marietta Materials

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lee Danner & Bass Inc. acquired a new stake in Martin Marietta Materials during the 4th quarter worth $28,000. Asset Dedication LLC raised its stake in Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in Martin Marietta Materials during the 4th quarter worth $32,000. First Personal Financial Services acquired a new stake in Martin Marietta Materials during the 3rd quarter worth $33,000. Finally, Kestra Investment Management LLC acquired a new stake in Martin Marietta Materials during the 4th quarter worth $35,000. 95.04% of the stock is currently 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.