Royal Bank Of Canada Has Lowered Expectations for Martin Marietta Materials (NYSE:MLM) Stock Price

Martin Marietta Materials (NYSE:MLM) had its target price dropped by Royal Bank Of Canada from $530.00 to $520.00 in a report issued on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the construction company’s stock. Royal Bank Of Canada‘s price objective would indicate a potential upside of 0.30% from the company’s previous close.

Several other research analysts also recently commented on the stock. HSBC dropped their price objective on shares of Martin Marietta Materials from $750.00 to $665.00 and set a “buy” rating for the company in a report on Tuesday, September 8th. Jefferies Financial Group decreased their target price on Martin Marietta Materials from $720.00 to $670.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. Stephens decreased their target price on Martin Marietta Materials from $680.00 to $600.00 and set an “overweight” rating on the stock in a research report on Friday, October 2nd. Zacks Research lowered Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Finally, Stifel Nicolaus cut their price target on Martin Marietta Materials from $634.00 to $629.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. Fifteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $641.05.

Martin Marietta Materials Price Performance

MLM traded down $9.41 during trading on Friday, reaching $518.42. 348,404 shares of the company traded hands, compared to its average volume of 626,524. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.73 and a current ratio of 1.63. Martin Marietta Materials has a 12-month low of $464.92 and a 12-month high of $710.97. The firm has a fifty day simple moving average of $503.24 and a 200 day simple moving average of $573.99. The company has a market cap of $31.14 billion, a P/E ratio of 13.71, a PEG ratio of 2.89 and a beta of 1.02.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, November 4th. The construction company reported $5.47 EPS for the quarter, missing the consensus estimate of $5.99 by ($0.52). Martin Marietta Materials had a return on equity of 7.96% and a net margin of 31.88%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the firm posted $6.85 EPS. Martin Marietta Materials’s quarterly revenue was up 28.3% compared to the same quarter last year. On average, equities analysts forecast that Martin Marietta Materials will post 16.29 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Nova Scotia bought a new stake in Martin Marietta Materials during the 2nd quarter valued at $3,650,000. Hsbc Holdings PLC grew its position in shares of Martin Marietta Materials by 6.6% during the 2nd quarter. Hsbc Holdings PLC now owns 118,981 shares of the construction company’s stock worth $68,541,000 after buying an additional 7,361 shares in the last quarter. Montanova Capital LLC bought a new position in shares of Martin Marietta Materials during the 2nd quarter worth $14,994,000. National Pension Service increased its stake in shares of Martin Marietta Materials by 6.4% during the second quarter. National Pension Service now owns 95,221 shares of the construction company’s stock valued at $54,914,000 after buying an additional 5,739 shares during the period. Finally, Bank of America Corp DE purchased a new position in shares of Martin Marietta Materials during the second quarter valued at $1,411,047,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of construction materials serving the infrastructure, commercial, residential and industrial markets. The company’s primary business is aggregates, including crushed stone, sand and gravel used in roads, bridges, buildings and other construction projects.

Martin Marietta also produces cement, ready-mixed concrete and asphalt products, and provides paving and related construction services in selected markets. Through its Magnesia Specialties business, the company manufactures magnesium-based and dolomitic lime products used in industrial, environmental and agricultural applications.

Headquartered in Raleigh, North Carolina, Martin Marietta Materials became an independent publicly traded company in 1993 following a spin-off from Martin Marietta Corporation.