Wall Street Zen Downgrades Martin Marietta Materials (NYSE:MLM) to Sell

Martin Marietta Materials (NYSE:MLM) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

MLM has been the topic of a number of other reports. Truist Financial lifted their price target on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Raymond James Financial lowered their price objective on shares of Martin Marietta Materials from $690.00 to $675.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. Morgan Stanley dropped their price objective on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. Zacks Research upgraded Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Finally, Oppenheimer assumed coverage on Martin Marietta Materials in a research note on Thursday, May 28th. They issued a “market perform” rating for the company. Eleven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $681.53.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $569.77 on Tuesday. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $34.21 billion, a P/E ratio of 13.58, a PEG ratio of 2.47 and a beta of 1.10. The business has a 50-day moving average of $577.91 and a 200-day moving average of $608.68. Martin Marietta Materials has a 1 year low of $525.38 and a 1 year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. Martin Marietta Materials’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period last year, the company posted $1.90 EPS. On average, equities analysts anticipate that Martin Marietta Materials will post 19.43 EPS for the current year.

Institutional Investors Weigh In On Martin Marietta Materials

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Optima Capital LLC acquired a new position in Martin Marietta Materials in the 4th quarter worth $25,000. CoreCap Advisors LLC raised its stake in shares of Martin Marietta Materials by 370.0% in the 2nd quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock valued at $27,000 after purchasing an additional 37 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of Martin Marietta Materials by 67.9% in the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after purchasing an additional 19 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $31,000. Finally, Reflection Asset Management acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth about $35,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value?added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready?mixed concrete and related materials and services.