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

Martin Marietta Materials (NYSE:MLM) had its price objective decreased by stock analysts at Citigroup from $701.00 to $600.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Citigroup’s price target would suggest a potential upside of 16.07% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. UBS Group assumed coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 price target on the stock. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. BNP Paribas lowered Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Barclays lifted their price target on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $649.54.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM traded up $0.24 during trading on Monday, reaching $516.91. The company had a trading volume of 185,057 shares, compared to its average volume of 306,664. Martin Marietta Materials has a fifty-two week low of $485.31 and a fifty-two week high of $633.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The stock’s fifty day moving average price is $570.99 and its 200 day moving average price is $552.33. The firm has a market capitalization of $31.59 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 3.74 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Martin Marietta Materials’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.94 EPS. As a group, equities research analysts predict that Martin Marietta Materials will post 17.58 EPS for the current year.

Hedge Funds Weigh In On Martin Marietta Materials

Institutional investors have recently added to or reduced their stakes in the business. Inspire Investing LLC grew its holdings in Martin Marietta Materials by 0.9% in the 3rd quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock valued at $1,144,000 after buying an additional 19 shares during the period. Integrated Wealth Concepts LLC increased its position in Martin Marietta Materials by 2.5% during the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock worth $421,000 after purchasing an additional 19 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its stake in Martin Marietta Materials by 3.0% during the second quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock worth $368,000 after purchasing an additional 20 shares during the period. iA Global Asset Management Inc. boosted its holdings in shares of Martin Marietta Materials by 3.6% in the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock valued at $307,000 after purchasing an additional 20 shares during the last quarter. Finally, Financial Counselors Inc. grew its stake in shares of Martin Marietta Materials by 1.9% during the 3rd quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company’s stock valued at $604,000 after buying an additional 21 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

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.