Martin Marietta Materials (NYSE:MLM) Stock Rating Upgraded by Wolfe Research

Martin Marietta Materials (NYSE:MLM) was upgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $563.00 target price on the construction company’s stock. Wolfe Research’s price target points to a potential upside of 10.48% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $515.00 to $640.00 in a research note on Wednesday, November 27th. BNP Paribas cut Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. UBS Group initiated coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 price objective for the company. Finally, Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $643.36.

Martin Marietta Materials Trading Down 1.5 %

NYSE:MLM opened at $509.61 on Wednesday. Martin Marietta Materials has a 52 week low of $485.31 and a 52 week high of $633.23. The stock has a market cap of $31.15 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 3.74 and a beta of 0.91. The company’s 50 day moving average price is $569.75 and its 200-day moving average price is $552.12. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The firm 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 firm’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $6.94 EPS. On average, equities research analysts forecast that Martin Marietta Materials will post 17.58 earnings per share for the current fiscal year.

Institutional Trading of Martin Marietta Materials

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Inspire Investing LLC grew its stake in Martin Marietta Materials by 0.9% during the 3rd quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock worth $1,144,000 after buying an additional 19 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Martin Marietta Materials by 2.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock valued at $421,000 after acquiring an additional 19 shares during the period. Meiji Yasuda Life Insurance Co raised its position in Martin Marietta Materials by 3.0% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock valued at $368,000 after purchasing an additional 20 shares during the last quarter. iA Global Asset Management Inc. boosted its stake in Martin Marietta Materials by 3.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock worth $307,000 after purchasing an additional 20 shares during the period. Finally, Financial Counselors Inc. grew its position in Martin Marietta Materials by 1.9% during the 3rd quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company’s stock worth $604,000 after purchasing an additional 21 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.