Martin Marietta Materials (NYSE:MLM) Given New $600.00 Price Target at Barclays

Martin Marietta Materials (NYSE:MLM) had its price target reduced by stock analysts at Barclays from $645.00 to $600.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Barclays‘s price objective would suggest a potential upside of 16.12% from the company’s current price.

MLM has been the topic of several other research reports. Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Citigroup dropped 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 note on Monday, January 6th. Raymond James decreased their target price on shares of Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, January 16th. Loop Capital boosted their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, UBS Group started coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $645.50.

Martin Marietta Materials Stock Down 2.3 %

Shares of NYSE:MLM opened at $516.72 on Thursday. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $31.58 billion, a P/E ratio of 16.10, a P/E/G ratio of 4.62 and a beta of 0.91. Martin Marietta Materials has a 52-week low of $482.72 and a 52-week high of $633.23. The stock’s fifty day simple moving average is $538.08 and its 200-day simple moving average is $549.88.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts forecast that Martin Marietta Materials will post 17.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Martin Marietta Materials

Institutional investors have recently modified their holdings of the stock. Atika Capital Management LLC lifted its holdings in Martin Marietta Materials by 54.4% during the 4th quarter. Atika Capital Management LLC now owns 47,100 shares of the construction company’s stock worth $24,327,000 after buying an additional 16,600 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co raised its position in shares of Martin Marietta Materials by 50.0% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 6,000 shares of the construction company’s stock valued at $3,099,000 after acquiring an additional 2,000 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Martin Marietta Materials by 76.5% during the fourth quarter. Russell Investments Group Ltd. now owns 110,943 shares of the construction company’s stock worth $57,375,000 after purchasing an additional 48,080 shares during the last quarter. Wedbush Securities Inc. acquired a new position in Martin Marietta Materials in the fourth quarter worth $312,000. Finally, Grantham Mayo Van Otterloo & Co. LLC bought a new stake in Martin Marietta Materials during the fourth quarter valued at $2,590,000. 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.