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

Martin Marietta Materials (NYSE:MLM) had its price target dropped by equities research analysts at Truist Financial from $670.00 to $610.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Truist Financial’s target price would suggest a potential upside of 15.65% from the company’s previous close.

A number of other brokerages also recently weighed in on MLM. StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, February 8th. Citigroup decreased their price objective on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, January 6th. HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective for the company in a research report on Wednesday, December 11th. Raymond James decreased their price objective on shares of Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, January 16th. Finally, Hsbc Global Res upgraded shares of 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 issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $639.43.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $527.47 on Thursday. Martin Marietta Materials has a one year low of $482.72 and a one year 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 firm has a market cap of $32.24 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 4.62 and a beta of 0.91. The firm’s fifty day moving average is $535.77 and its two-hundred day moving average is $549.52.

Martin Marietta Materials (NYSE:MLM) last issued 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%. Research analysts expect that Martin Marietta Materials will post 17.57 EPS for the current year.

Institutional Trading of Martin Marietta Materials

A number of hedge funds have recently bought and sold shares of MLM. Vanguard Group Inc. grew its stake in shares of Martin Marietta Materials by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company’s stock valued at $3,705,466,000 after buying an additional 36,531 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after buying an additional 506,705 shares during the period. FMR LLC grew its stake in shares of Martin Marietta Materials by 15.3% in the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after buying an additional 334,605 shares during the period. Principal Financial Group Inc. grew its stake in shares of Martin Marietta Materials by 11.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company’s stock valued at $939,898,000 after buying an additional 191,043 shares during the period. Finally, Amundi grew its stake in shares of Martin Marietta Materials by 10.5% in the 4th quarter. Amundi now owns 1,562,146 shares of the construction company’s stock valued at $808,005,000 after buying an additional 148,065 shares during the period. 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.