Martin Marietta Materials (NYSE:MLM) Lowered to C+ at TheStreet

Martin Marietta Materials (NYSE:MLMGet Rating) was downgraded by research analysts at TheStreet from a “b” rating to a “c+” rating in a research note issued on Tuesday, TheStreetRatingsTable reports.

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

Shares of Martin Marietta Materials stock opened at $321.56 on Tuesday. The firm has a fifty day moving average of $370.11 and a two-hundred day moving average of $393.86. The stock 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 has a 52 week low of $319.12 and a 52 week high of $446.46. 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 (NYSE:MLMGet Rating) last issued its earnings results on Tuesday, May 3rd. The construction company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.44). The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.13 billion. Martin Marietta Materials had a net margin of 11.63% and a return on equity of 11.42%. The business’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 EPS. As a group, research analysts forecast that Martin Marietta Materials will post 13.29 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. AHL Investment Management Inc. bought a new position in shares of Martin Marietta Materials during the fourth quarter worth approximately $31,000. Marshall Wace LLP bought a new position in shares of Martin Marietta Materials during the fourth quarter worth approximately $32,000. NuWave Investment Management LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter worth approximately $37,000. Tortoise Investment Management LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter worth approximately $39,000. Finally, KB Financial Partners LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter worth approximately $40,000. 93.49% of the stock is currently owned by institutional investors.

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.

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