Wall Street Zen Upgrades Martin Marietta Materials (NYSE:MLM) to Hold

Martin Marietta Materials (NYSE:MLM) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Monday.

Other equities analysts also recently issued reports about the company. Berenberg Bank set a $556.00 target price on Martin Marietta Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. Royal Bank Of Canada reduced their price target on Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating for the company in a research report on Monday, May 4th. Citigroup raised their price objective on Martin Marietta Materials from $731.00 to $737.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. UBS Group set a $739.00 price objective on Martin Marietta Materials in a research report on Sunday, May 10th. Finally, Barclays cut their price objective on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Eleven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average target price of $681.53.

Martin Marietta Materials Trading Down 1.1%

Shares of MLM stock opened at $547.33 on Monday. Martin Marietta Materials has a 12-month low of $525.38 and a 12-month high of $710.97. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $577.03 and its 200 day moving average is $611.66. The stock has a market capitalization of $32.87 billion, a P/E ratio of 13.04, a P/E/G ratio of 2.35 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the company posted $1.90 EPS. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. Research analysts expect that Martin Marietta Materials will post 19.43 earnings per share for the current year.

Institutional Trading of Martin Marietta Materials

Institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Martin Marietta Materials by 14,332.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company’s stock worth $48,438,000 after acquiring an additional 77,253 shares in the last quarter. Gradient Investments LLC boosted its position in shares of Martin Marietta Materials by 9.7% during the 4th quarter. Gradient Investments LLC now owns 44,209 shares of the construction company’s stock valued at $27,527,000 after acquiring an additional 3,903 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Martin Marietta Materials by 66.7% during the 4th quarter. SG Americas Securities LLC now owns 9,316 shares of the construction company’s stock valued at $5,801,000 after acquiring an additional 3,728 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Martin Marietta Materials by 17.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,753 shares of the construction company’s stock valued at $7,318,000 after purchasing an additional 1,778 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Martin Marietta Materials by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 126,524 shares of the construction company’s stock valued at $80,272,000 after purchasing an additional 5,227 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.