Martin Marietta Materials (NYSE:MLM) Downgraded by StockNews.com

Martin Marietta Materials (NYSE:MLMGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

A number of other analysts have also recently weighed in on MLM. Morgan Stanley cut their price objective on shares of Martin Marietta Materials from $470.00 to $441.00 and set an “overweight” rating on the stock in a report on Monday, April 18th. Barclays cut their price objective on shares of Martin Marietta Materials from $485.00 to $450.00 and set an “overweight” rating on the stock in a report on Friday, February 11th. DA Davidson cut their price objective on shares of Martin Marietta Materials from $465.00 to $450.00 in a report on Monday, February 14th. Finally, Zacks Investment Research raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating and set a $396.00 price objective on the stock in a report on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Buy” and an average target price of $439.00.

MLM stock opened at $321.56 on Thursday. The company’s 50 day moving average price is $370.11 and its 200 day moving average price is $393.86. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.69 and a current ratio of 2.79. Martin Marietta Materials has a fifty-two week low of $319.12 and a fifty-two week high of $446.46. The firm has a market capitalization of $20.05 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 1.40 and a beta of 0.79.

Martin Marietta Materials (NYSE:MLMGet Rating) last released its earnings results on Tuesday, May 3rd. The construction company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.44). The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Martin Marietta Materials had a return on equity of 11.42% and a net margin of 11.63%. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.04 earnings per share. Equities analysts forecast that Martin Marietta Materials will post 13.29 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of MLM. Marshall Wace North America L.P. purchased a new position in Martin Marietta Materials in the 1st quarter valued at $62,000. Amundi Pioneer Asset Management Inc. grew its position in Martin Marietta Materials by 18.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 26,779 shares of the construction company’s stock valued at $5,387,000 after buying an additional 4,176 shares during the last quarter. Mackenzie Financial Corp grew its position in Martin Marietta Materials by 37.3% in the 3rd quarter. Mackenzie Financial Corp now owns 4,200 shares of the construction company’s stock valued at $1,435,000 after buying an additional 1,142 shares during the last quarter. Ieq Capital LLC purchased a new position in Martin Marietta Materials in the 3rd quarter valued at $207,000. Finally, Commerce Bank grew its position in Martin Marietta Materials by 14.4% in the 3rd quarter. Commerce Bank now owns 2,924 shares of the construction company’s stock valued at $999,000 after buying an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 93.49% of the company’s stock.

About Martin Marietta Materials (Get Rating)

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.

Recommended Stories

Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

Receive News & Ratings for Martin Marietta Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials and related companies with MarketBeat.com's FREE daily email newsletter.