Martin Marietta Materials (NYSE:MLM) Price Target Raised to $620.00 at Royal Bank Of Canada

Martin Marietta Materials (NYSE:MLM) had its price objective hoisted by investment analysts at Royal Bank Of Canada from $610.00 to $620.00 in a report issued on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the construction company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 17.62% from the stock’s current price.

MLM has been the subject of a number of other research reports. JPMorgan Chase & Co. reduced their price objective on Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Truist Financial boosted their price target on Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Weiss Ratings lowered shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Wall Street Zen downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Tuesday, July 28th. Finally, Wolfe Research set a $648.00 target price on shares of Martin Marietta Materials in a research report on Tuesday, August 4th. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $665.88.

Martin Marietta Materials Stock Performance

Shares of MLM stock traded down $1.46 during trading hours on Friday, reaching $527.13. The company had a trading volume of 59,998 shares, compared to its average volume of 546,102. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.73 and a current ratio of 1.41. The business has a fifty day moving average price of $564.37 and a 200-day moving average price of $591.62. Martin Marietta Materials has a one year low of $522.19 and a one year high of $710.97. The firm has a market cap of $31.66 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 2.30 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping analysts’ consensus estimates of $4.76 by $0.24. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The firm’s revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.43 EPS. Sell-side analysts predict that Martin Marietta Materials will post 19.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Martin Marietta Materials

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lido Advisors LLC boosted its position in shares of Martin Marietta Materials by 0.8% in the fourth quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock worth $1,209,000 after purchasing an additional 15 shares during the period. Ashton Thomas Private Wealth LLC raised its position in shares of Martin Marietta Materials by 3.9% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock valued at $264,000 after purchasing an additional 16 shares during the period. Harbour Investments Inc. raised its position in shares of Martin Marietta Materials by 31.4% during the 4th quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock valued at $42,000 after purchasing an additional 16 shares during the period. AMG National Trust Bank lifted its stake in shares of Martin Marietta Materials by 3.6% during the 1st quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock valued at $291,000 after buying an additional 17 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of Martin Marietta Materials by 0.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock valued at $1,361,000 after buying an additional 17 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Company Profile

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.