Martin Marietta Materials (NYSE:MLM) Stock Rating Lowered by StockNews.com

Martin Marietta Materials (NYSE:MLM) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

A number of other analysts also recently issued reports on the stock. UBS Group assumed coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective for the company. HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target for the company in a research report on Wednesday, December 11th. BNP Paribas downgraded Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. Finally, Morgan Stanley reduced their target price on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $653.08.

Martin Marietta Materials Trading Down 1.2 %

Shares of NYSE:MLM opened at $510.56 on Wednesday. The stock has a market cap of $31.20 billion, a PE ratio of 15.91, a P/E/G ratio of 3.74 and a beta of 0.89. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials has a 12-month low of $479.67 and a 12-month high of $633.23. The business has a 50 day moving average of $572.06 and a 200-day moving average of $552.78.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm earned $6.94 earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, equities research analysts forecast that Martin Marietta Materials will post 17.58 earnings per share for the current year.

Hedge Funds Weigh In On Martin Marietta Materials

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLM. Allspring Global Investments Holdings LLC lifted its stake in shares of Martin Marietta Materials by 2.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,579 shares of the construction company’s stock valued at $1,939,000 after acquiring an additional 98 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Martin Marietta Materials during the second quarter valued at about $65,000. Rothschild Investment LLC bought a new stake in shares of Martin Marietta Materials during the second quarter worth about $43,000. Commonwealth Equity Services LLC increased its stake in shares of Martin Marietta Materials by 1.7% in the second quarter. Commonwealth Equity Services LLC now owns 8,264 shares of the construction company’s stock valued at $4,478,000 after buying an additional 142 shares during the period. Finally, Summit Financial LLC raised its holdings in Martin Marietta Materials by 89.8% in the 2nd quarter. Summit Financial LLC now owns 685 shares of the construction company’s stock valued at $371,000 after buying an additional 324 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

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.