Martin Marietta Materials (NYSE:MLM) Stock Rating Upgraded by StockNews.com

Martin Marietta Materials (NYSE:MLM) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Other equities analysts also recently issued research reports about the company. Truist Financial cut their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Jefferies Financial Group lifted their price target on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Stephens cut their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Stifel Nicolaus cut their price target on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, Loop Capital cut their target price on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $624.18.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $539.70 on Tuesday. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $549.45 and a two-hundred day simple moving average of $570.28. Martin Marietta Materials has a 12 month low of $389.90 and a 12 month high of $626.67. The firm has a market capitalization of $33.27 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 3.12 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the firm earned $5.60 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. Analysts forecast that Martin Marietta Materials will post 22.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Martin Marietta Materials

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EP Wealth Advisors LLC raised its holdings in Martin Marietta Materials by 6.4% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,035 shares of the construction company’s stock valued at $561,000 after acquiring an additional 62 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Martin Marietta Materials by 23.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,782 shares of the construction company’s stock valued at $965,000 after acquiring an additional 339 shares during the period. Front Row Advisors LLC bought a new stake in Martin Marietta Materials during the 2nd quarter valued at $239,000. Susquehanna Fundamental Investments LLC raised its holdings in Martin Marietta Materials by 154.8% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 32,297 shares of the construction company’s stock valued at $17,499,000 after acquiring an additional 19,620 shares during the period. Finally, Scientech Research LLC raised its holdings in Martin Marietta Materials by 42.2% during the 2nd quarter. Scientech Research LLC now owns 1,123 shares of the construction company’s stock valued at $608,000 after acquiring an additional 333 shares during the period. Institutional investors 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.