Martin Marietta Materials (NYSE:MLM) Price Target Raised to $700.00 at JPMorgan Chase & Co.

Martin Marietta Materials (NYSE:MLM) had its target price upped by investment analysts at JPMorgan Chase & Co. from $670.00 to $700.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 12.57% from the company’s current price.

A number of other analysts have also weighed in on MLM. UBS Group upped their target price on shares of Martin Marietta Materials from $705.00 to $723.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings restated a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Wednesday, October 8th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $525.00 target price (up previously from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Stifel Nicolaus raised their price target on Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Barclays upped their price objective on Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $644.38.

Martin Marietta Materials Stock Up 0.8%

Martin Marietta Materials stock traded up $5.08 during mid-day trading on Tuesday, reaching $621.85. 28,554 shares of the company’s stock were exchanged, compared to its average volume of 448,841. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. Martin Marietta Materials has a twelve month low of $441.95 and a twelve month high of $665.18. The company has a market cap of $37.50 billion, a P/E ratio of 34.48, a P/E/G ratio of 5.57 and a beta of 1.06. The company has a fifty day moving average of $621.69 and a 200-day moving average of $584.93.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data 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 analyst estimates 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. Sell-side analysts expect that Martin Marietta Materials will post 19.53 EPS for the current year.

Institutional Trading of Martin Marietta Materials

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Martin Marietta Materials by 1.3% during the third quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock worth $4,691,139,000 after acquiring an additional 93,595 shares during the period. JPMorgan Chase & Co. lifted its position in Martin Marietta Materials by 0.4% in the second quarter. JPMorgan Chase & Co. now owns 2,955,139 shares of the construction company’s stock valued at $1,622,254,000 after purchasing an additional 10,445 shares during the period. State Street Corp boosted its holdings in Martin Marietta Materials by 2.0% in the 2nd quarter. State Street Corp now owns 2,825,325 shares of the construction company’s stock valued at $1,550,990,000 after purchasing an additional 56,353 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Martin Marietta Materials by 31.9% in the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock valued at $1,284,938,000 after buying an additional 565,856 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Martin Marietta Materials by 9.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock worth $1,389,428,000 after purchasing an additional 192,637 shares in the last quarter. Institutional investors and hedge funds 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.