Barclays Has Lowered Expectations for Martin Marietta Materials (NYSE:MLM) Stock Price

Martin Marietta Materials (NYSE:MLM) had its price objective trimmed by Barclays from $645.00 to $600.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

Several other equities research analysts also recently commented on MLM. Citigroup reduced their price objective on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a report on Monday, January 6th. Loop Capital lifted their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a report on Wednesday, December 11th. Wolfe Research upgraded Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price on the stock in a research note on Wednesday, January 8th. Finally, BNP Paribas cut shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $639.43.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $531.75 on Thursday. 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 12 month low of $482.72 and a 12 month high of $633.23. The stock has a market capitalization of $32.50 billion, a P/E ratio of 16.57, a PEG ratio of 4.62 and a beta of 0.91. The firm’s 50 day moving average is $536.78 and its 200 day moving average is $549.65.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating 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%. On average, sell-side analysts anticipate that Martin Marietta Materials will post 17.57 earnings per share for the current year.

Hedge Funds Weigh In On Martin Marietta Materials

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