Martin Marietta Materials (NYSE:MLM) Given New $610.00 Price Target at Wells Fargo & Company

Martin Marietta Materials (NYSE:MLM) had its price target dropped by analysts at Wells Fargo & Company from $620.00 to $610.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 0.23% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Raymond James Financial upped their target price on Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Bank of America upped their target price on Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a report on Tuesday, August 5th. Stephens reaffirmed an “overweight” rating and issued a $700.00 target price on shares of Martin Marietta Materials in a report on Monday, August 4th. Wall Street Zen upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Stifel Nicolaus increased their price objective on Martin Marietta Materials from $609.00 to $637.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average target price of $627.94.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM traded down $2.03 during trading on Thursday, reaching $608.59. 64,466 shares of the stock were exchanged, compared to its average volume of 449,895. Martin Marietta Materials has a 12 month low of $441.95 and a 12 month high of $665.18. The firm has a market cap of $36.70 billion, a PE ratio of 33.69, a PEG ratio of 5.57 and a beta of 1.01. The stock has a 50-day moving average price of $621.89 and a 200-day moving average price of $581.89. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.62 by ($0.65). The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $2.06 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. Martin Marietta Materials has set its FY 2025 guidance at EPS. Research analysts expect that Martin Marietta Materials will post 19.53 EPS for the current fiscal year.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $613.32, for a total transaction of $636,626.16. Following the transaction, the director owned 15,417 shares of the company’s stock, valued at $9,455,554.44. This trade represents a 6.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Martin Marietta Materials

Several large investors have recently modified their holdings of the stock. Quent Capital LLC bought a new stake in Martin Marietta Materials in the third quarter worth $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in Martin Marietta Materials in the second quarter worth $28,000. Zions Bancorporation National Association UT bought a new stake in Martin Marietta Materials in the first quarter worth $30,000. NewSquare Capital LLC lifted its stake in Martin Marietta Materials by 62.2% in the second quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock worth $33,000 after purchasing an additional 23 shares during the last quarter. Finally, Grey Fox Wealth Advisors LLC bought a new stake in Martin Marietta Materials in the third quarter worth $33,000. Hedge funds and other 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.