Loop Capital Issues Pessimistic Forecast for Martin Marietta Materials (NYSE:MLM) Stock Price

Martin Marietta Materials (NYSE:MLM) had its price target decreased by research analysts at Loop Capital from $645.00 to $615.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Loop Capital’s price target indicates a potential upside of 24.86% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Wolfe Research raised Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price for the company in a report on Wednesday, January 8th. Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. BNP Paribas cut shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Stephens cut their price target on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective for the company in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average price target of $626.50.

Martin Marietta Materials Stock Up 1.6 %

MLM stock opened at $492.54 on Tuesday. The stock has a fifty day moving average of $503.23 and a 200-day moving average of $537.94. Martin Marietta Materials has a fifty-two week low of $448.50 and a fifty-two week high of $633.23. The company has a market capitalization of $30.03 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 4.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. As a group, equities research analysts predict that Martin Marietta Materials will post 19.53 earnings per share for the current year.

Insider Transactions at Martin Marietta Materials

In related news, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the transaction, the executive vice president now owns 3,523 shares in the company, valued at approximately $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael J. Petro bought 550 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $454.37 per share, with a total value of $249,903.50. Following the acquisition, the senior vice president now owns 8,985 shares in the company, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Martin Marietta Materials

A number of institutional investors and hedge funds have recently modified their holdings of MLM. Lee Danner & Bass Inc. bought a new position in Martin Marietta Materials in the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC purchased a new position in shares of Martin Marietta Materials during the fourth quarter valued at $32,000. Kestra Investment Management LLC bought a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $35,000. Hopwood Financial Services Inc. purchased a new stake in Martin Marietta Materials in the fourth quarter worth about $36,000. Finally, EverSource Wealth Advisors LLC increased its position in Martin Marietta Materials by 91.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $37,000 after purchasing an additional 34 shares during the period. 95.04% of the stock is owned by institutional investors.

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.