Martin Marietta Materials (NYSE:MLM) Price Target Cut to $515.00

Martin Marietta Materials (NYSE:MLM) had its target price dropped by research analysts at JPMorgan Chase & Co. from $560.00 to $515.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 3.65% from the company’s current price.

Several other research analysts have also recently weighed in on MLM. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Stifel Nicolaus cut their price target on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Truist Financial decreased their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Morgan Stanley boosted their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Finally, StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $619.36.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $534.52 on Wednesday. The company has a fifty day moving average price of $530.83 and a 200-day moving average price of $560.25. The firm has a market cap of $32.95 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 3.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. Martin Marietta Materials has a 1 year low of $389.90 and a 1 year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the company posted $5.60 earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, equities research analysts predict that Martin Marietta Materials will post 19.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Martin Marietta Materials

Large investors have recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. bought a new position in shares of Martin Marietta Materials during the 4th quarter valued at about $25,000. Newbridge Financial Services Group Inc. raised its stake in shares of Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after acquiring an additional 37 shares in the last quarter. Riverview Trust Co bought a new stake in shares of Martin Marietta Materials in the 1st quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Martin Marietta Materials in the 1st quarter worth approximately $31,000. Finally, Fortitude Family Office LLC boosted its stake in shares of Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after purchasing an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Company Profile

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.