Martin Marietta Materials (NYSE:MLM) Price Target Cut to $650.00 by Analysts at Stephens

Martin Marietta Materials (NYSE:MLM) had its price objective lowered by equities researchers at Stephens from $675.00 to $650.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Stephens’ price target suggests a potential upside of 23.65% from the company’s previous close.

MLM has been the topic of several other reports. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective on the stock in a report on Wednesday, December 11th. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and upped their price target for the company from $515.00 to $640.00 in a research report on Wednesday, November 27th. 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 report on Thursday, January 16th. Morgan Stanley decreased their price target on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, UBS Group began coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $730.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $644.07.

Martin Marietta Materials Stock Up 1.7 %

Shares of MLM stock traded up $8.54 on Thursday, hitting $525.68. The stock had a trading volume of 192,699 shares, compared to its average volume of 402,538. Martin Marietta Materials has a 12-month low of $482.72 and a 12-month 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 business has a 50 day moving average of $536.78 and a 200 day moving average of $549.65. The stock has a market cap of $32.13 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 4.62 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating the consensus estimate 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, analysts expect that Martin Marietta Materials will post 17.57 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Lee Danner & Bass Inc. bought a new position in Martin Marietta Materials in the fourth quarter worth about $28,000. Asset Dedication LLC grew its stake in Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares during the period. First Personal Financial Services purchased a new stake in Martin Marietta Materials in the third quarter worth $33,000. Whipplewood Advisors LLC bought a new position in Martin Marietta Materials in the fourth quarter worth $32,000. Finally, Kestra Investment Management LLC purchased a new position in Martin Marietta Materials during the fourth quarter valued at $35,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

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.