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

Martin Marietta Materials (NYSE:MLM – Get Rating) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other equities analysts have also recently weighed in on the company. TheStreet cut Martin Marietta Materials from a “b” rating to a “c+” rating in a report on Tuesday, May 10th. Morgan Stanley reduced their price target on Martin Marietta Materials from $470.00 to $441.00 and set an “overweight” rating on the stock in a research report on Monday, April 18th. Finally, JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $420.00 to $410.00 in a research report on Friday, June 3rd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Buy” and an average price target of $445.80.

Shares of NYSE MLM opened at $316.47 on Wednesday. Martin Marietta Materials has a 52 week low of $312.08 and a 52 week high of $446.46. The business has a 50-day simple moving average of $347.25 and a two-hundred day simple moving average of $380.71. The company has a quick ratio of 1.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.79. The company has a market cap of $19.74 billion, a P/E ratio of 30.08, a P/E/G ratio of 1.42 and a beta of 0.79.

Martin Marietta Materials (NYSE:MLM – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The construction company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.32). Martin Marietta Materials had a net margin of 11.63% and a return on equity of 11.42%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the business earned $1.04 EPS. The business’s revenue was up 25.3% on a year-over-year basis. Equities research analysts anticipate that Martin Marietta Materials will post 13.47 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. purchased a new position in Martin Marietta Materials during the first quarter valued at $62,000. Amundi Pioneer Asset Management Inc. grew its holdings in Martin Marietta Materials by 18.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 26,779 shares of the construction company’s stock valued at $5,387,000 after purchasing an additional 4,176 shares during the period. Neuberger Berman Group LLC grew its holdings in Martin Marietta Materials by 1.5% during the third quarter. Neuberger Berman Group LLC now owns 2,631 shares of the construction company’s stock valued at $847,000 after purchasing an additional 39 shares during the period. Balyasny Asset Management LLC bought a new stake in Martin Marietta Materials during the third quarter valued at about $1,848,000. Finally, Man Group plc grew its holdings in Martin Marietta Materials by 313.5% during the third quarter. Man Group plc now owns 48,646 shares of the construction company’s stock valued at $16,621,000 after purchasing an additional 36,882 shares during the period. Institutional investors own 93.49% of the company’s stock.

Martin Marietta Materials Company Profile (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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