Martin Marietta Materials (NYSE:MLM) Price Target Cut to $645.00 by Analysts at Loop Capital

Martin Marietta Materials (NYSE:MLM) had its price target decreased by investment analysts at Loop Capital from $680.00 to $645.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Loop Capital’s target price would suggest a potential upside of 21.30% from the stock’s current price.

Other analysts have also issued reports about the company. Barclays lowered their price target on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday. BNP Paribas downgraded shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. StockNews.com lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, February 8th. UBS Group began coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 price objective on the stock. Finally, Raymond James reduced their price target on Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday. One equities research 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $639.43.

Martin Marietta Materials Price Performance

Shares of MLM stock traded up $14.61 during trading hours on Thursday, hitting $531.75. 665,149 shares of the company’s stock were exchanged, compared to its average volume of 419,964. Martin Marietta Materials has a fifty-two week low of $482.72 and a fifty-two week high of $633.23. The firm has a market cap of $32.50 billion, a P/E ratio of 16.57, a P/E/G ratio of 4.62 and a beta of 0.91. 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 firm has a 50 day moving average of $536.78 and a two-hundred day moving average of $549.65.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Sell-side analysts forecast that Martin Marietta Materials will post 17.57 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Canada Post Corp Registered Pension Plan acquired a new position in Martin Marietta Materials during the 4th quarter worth about $484,000. XTX Topco Ltd acquired a new position in shares of Martin Marietta Materials in the fourth quarter valued at approximately $353,000. Mariner LLC lifted its holdings in Martin Marietta Materials by 34.7% during the 4th quarter. Mariner LLC now owns 9,943 shares of the construction company’s stock worth $5,135,000 after buying an additional 2,560 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new position in Martin Marietta Materials in the 4th quarter valued at approximately $315,000. Finally, Optimize Financial Inc acquired a new position in shares of Martin Marietta Materials in the fourth quarter worth $246,000. 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.