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

Martin Marietta Materials (NYSE:MLM) had its price target decreased by Truist Financial from $670.00 to $610.00 in a research report sent to investors on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

A number of other research analysts have also recently issued reports on the stock. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, February 8th. Barclays decreased their price objective on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $515.00 to $640.00 in a research note on Wednesday, November 27th. BNP Paribas cut shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, UBS Group started coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $639.43.

Martin Marietta Materials Stock Up 2.8 %

Shares of MLM opened at $531.75 on Thursday. Martin Marietta Materials has a 12 month low of $482.72 and a 12 month high of $633.23. The firm’s 50 day moving average is $536.78 and its 200-day moving average is $549.65. The stock has a market capitalization of $32.50 billion, a PE ratio of 16.57, a P/E/G ratio of 4.62 and a beta of 0.91. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping 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%. Equities research analysts forecast 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 added to or reduced their stakes in MLM. CWM LLC lifted its holdings in shares of Martin Marietta Materials by 7.0% during the third quarter. CWM LLC now owns 1,749 shares of the construction company’s stock worth $942,000 after purchasing an additional 114 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Martin Marietta Materials by 67.0% during the third quarter. Ritholtz Wealth Management now owns 765 shares of the construction company’s stock worth $412,000 after purchasing an additional 307 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Martin Marietta Materials during the third quarter worth $209,000. Swedbank AB lifted its holdings in shares of Martin Marietta Materials by 326.4% during the third quarter. Swedbank AB now owns 3,492 shares of the construction company’s stock worth $1,880,000 after purchasing an additional 2,673 shares during the period. Finally, Asset Dedication LLC lifted its holdings in shares of Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 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.