B. Riley Financial Issues Pessimistic Forecast for Martin Marietta Materials (NYSE:MLM) Stock Price

Martin Marietta Materials (NYSE:MLM) had its price target cut by equities researchers at B. Riley Financial from $700.00 to $615.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. B. Riley Financial‘s target price would indicate a potential upside of 17.19% from the company’s previous close.

Several other analysts also recently commented on MLM. Raymond James Financial reaffirmed an “outperform” rating and set a $620.00 price objective on shares of Martin Marietta Materials in a research note on Friday. BNP Paribas Exane decreased their target price on Martin Marietta Materials from $590.00 to $565.00 and set a “neutral” rating for the company in a research note on Wednesday, September 16th. Royal Bank Of Canada lowered their price target on Martin Marietta Materials from $530.00 to $520.00 and set a “sector perform” rating for the company in a report on Friday. Morgan Stanley dropped their price target on Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Finally, HSBC cut their price objective on Martin Marietta Materials from $750.00 to $665.00 and set a “buy” rating on the stock in a report on Tuesday, September 8th. Fifteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $638.35.

Martin Marietta Materials Trading Down 1.2%

Shares of MLM stock traded down $6.16 during trading hours on Tuesday, reaching $524.81. The company had a trading volume of 246,241 shares, compared to its average volume of 628,663. The company has a 50 day moving average of $502.99 and a 200 day moving average of $572.87. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.63 and a quick ratio of 0.73. The firm has a market cap of $31.53 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 2.89 and a beta of 1.02. Martin Marietta Materials has a 1-year low of $464.92 and a 1-year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, November 4th. The construction company reported $5.47 EPS for the quarter, missing analysts’ consensus estimates of $5.99 by ($0.52). Martin Marietta Materials had a return on equity of 7.96% and a net margin of 31.88%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the firm earned $6.85 earnings per share. The firm’s revenue for the quarter was up 28.3% on a year-over-year basis. On average, equities research analysts anticipate that Martin Marietta Materials will post 16.58 EPS for the current year.

Institutional Trading of Martin Marietta Materials

Hedge funds and other institutional investors have recently modified their holdings of the company. AMG National Trust Bank raised its holdings in shares of Martin Marietta Materials by 3.6% in the first quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock valued at $291,000 after acquiring an additional 17 shares in the last quarter. AlTi Global Inc. grew its holdings in Martin Marietta Materials by 1.2% during the 1st quarter. AlTi Global Inc. now owns 1,496 shares of the construction company’s stock worth $881,000 after acquiring an additional 18 shares in the last quarter. Meeder Asset Management Inc. increased its position in Martin Marietta Materials by 67.9% during the 1st 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 during the period. Western Wealth Management LLC increased its position in Martin Marietta Materials by 5.1% during the 1st quarter. Western Wealth Management LLC now owns 559 shares of the construction company’s stock valued at $329,000 after purchasing an additional 27 shares during the period. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of Martin Marietta Materials by 0.3% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 11,015 shares of the construction company’s stock valued at $5,286,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc. is a U.S.-based supplier of building materials used in construction and infrastructure projects. Its products include crushed stone, sand and gravel, cement, ready-mixed concrete and asphalt. The company also produces specialty products through its magnesia-based business, including lime, chemicals and products used in industrial and environmental applications. Its construction materials operations serve markets across the United States. Martin Marietta traces its roots to 1939 and has grown through acquisitions and expansion of its materials operations.