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

Martin Marietta Materials (NYSE:MLM) had its price target decreased by Raymond James from $630.00 to $600.00 in a report published on Thursday,Benzinga reports. Raymond James currently has an outperform rating on the construction company’s stock.

A number of other equities research analysts also recently weighed in on MLM. Truist Financial decreased their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research report on Thursday. Wolfe Research raised Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price on the stock in a research report on Wednesday, January 8th. Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. BNP Paribas downgraded Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Stephens decreased their target price on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average target price of $639.43.

Martin Marietta Materials Trading Up 2.8 %

Shares of NYSE:MLM opened at $531.75 on Thursday. The company has a market cap of $32.50 billion, a P/E ratio of 16.57, a P/E/G ratio of 4.62 and a beta of 0.91. The stock’s 50-day moving average is $536.78 and its 200-day moving average is $549.65. Martin Marietta Materials has a 52-week low of $482.72 and a 52-week high of $633.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. Equities research analysts predict that Martin Marietta Materials will post 17.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MLM. Lee Danner & Bass Inc. bought a new position in shares of Martin Marietta Materials in the fourth quarter valued at approximately $28,000. Asset Dedication LLC raised its stake in shares of Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares during the last quarter. Whipplewood Advisors LLC bought a new position in shares of Martin Marietta Materials in the fourth quarter valued at approximately $32,000. First Personal Financial Services bought a new position in shares of Martin Marietta Materials in the third quarter valued at approximately $33,000. Finally, Kestra Investment Management LLC bought a new position in shares of Martin Marietta Materials in the fourth quarter valued at approximately $35,000. 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.