UBS Group Initiates Coverage on Martin Marietta Materials (NYSE:MLM)

Stock analysts at UBS Group assumed coverage on shares of Martin Marietta Materials (NYSE:MLM) in a report issued on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $730.00 price target on the construction company’s stock. UBS Group’s price target points to a potential upside of 18.26% from the company’s previous close.

A number of other brokerages have also commented on MLM. Citigroup reduced their price target on shares of 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. Loop Capital upped 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. StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Stephens reduced their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Finally, Truist Financial dropped their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $634.85.

Martin Marietta Materials Trading Up 6.0 %

Shares of NYSE MLM opened at $617.31 on Thursday. The firm’s 50 day moving average price is $545.48 and its 200-day moving average price is $556.16. Martin Marietta Materials has a 52-week low of $439.36 and a 52-week high of $633.23. 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 company has a market cap of $37.73 billion, a PE ratio of 19.24, a P/E/G ratio of 3.86 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.94 earnings per share. On average, equities research analysts expect that Martin Marietta Materials will post 17.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Martin Marietta Materials

Several hedge funds have recently modified their holdings of MLM. Schear Investment Advisers LLC grew its stake in Martin Marietta Materials by 17.6% in the third quarter. Schear Investment Advisers LLC now owns 2,978 shares of the construction company’s stock valued at $1,603,000 after purchasing an additional 446 shares during the last quarter. Turtle Creek Wealth Advisors LLC grew its position in shares of Martin Marietta Materials by 2.3% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 8,964 shares of the construction company’s stock worth $4,825,000 after buying an additional 201 shares during the last quarter. Natixis Advisors LLC lifted its position in Martin Marietta Materials by 4.9% during the third quarter. Natixis Advisors LLC now owns 97,554 shares of the construction company’s stock valued at $52,508,000 after acquiring an additional 4,513 shares during the last quarter. Mizuho Securities USA LLC boosted its stake in Martin Marietta Materials by 197.5% in the third quarter. Mizuho Securities USA LLC now owns 14,152 shares of the construction company’s stock valued at $7,617,000 after acquiring an additional 9,395 shares in the last quarter. Finally, Empirical Finance LLC grew its holdings in Martin Marietta Materials by 2.0% in the third quarter. Empirical Finance LLC now owns 2,145 shares of the construction company’s stock worth $1,155,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors 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.