Martin Marietta Materials (NYSE:MLM) Price Target Cut to $397.00

Martin Marietta Materials (NYSE:MLM – Get Rating) had its price objective dropped by analysts at Morgan Stanley from $399.00 to $397.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the construction company’s stock. Morgan Stanley’s price target would suggest a potential upside of 14.18% from the stock’s previous close.

Several other brokerages have also weighed in on MLM. JPMorgan Chase & Co. dropped their price objective on shares of Martin Marietta Materials from $410.00 to $395.00 in a research report on Thursday, December 8th. Raymond James dropped their price objective on shares of Martin Marietta Materials from $410.00 to $380.00 in a research report on Sunday, November 6th. Citigroup upped their price target on shares of Martin Marietta Materials from $385.00 to $406.00 in a research note on Tuesday, January 10th. StockNews.com started coverage on shares of Martin Marietta Materials in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Stifel Nicolaus upped their price target on shares of Martin Marietta Materials from $400.00 to $405.00 and gave the company a “buy” rating in a research note on Monday, December 19th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $400.10.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $347.69 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.43 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average price is $351.58 and its two-hundred day moving average price is $341.42. Martin Marietta Materials has a 1 year low of $284.99 and a 1 year high of $406.85. The firm has a market capitalization of $21.59 billion, a P/E ratio of 25.89, a price-to-earnings-growth ratio of 1.64 and a beta of 0.88.

Martin Marietta Materials (NYSE:MLM – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The construction company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.74 by ($0.05). Martin Marietta Materials had a return on equity of 11.43% and a net margin of 13.59%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. As a group, research analysts anticipate that Martin Marietta Materials will post 12.45 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. City State Bank raised its holdings in Martin Marietta Materials by 6.6% during the 4th quarter. City State Bank now owns 487 shares of the construction company’s stock worth $165,000 after purchasing an additional 30 shares during the last quarter. Gilbert & Cook Inc. grew its position in shares of Martin Marietta Materials by 2.9% during the 3rd quarter. Gilbert & Cook Inc. now owns 1,090 shares of the construction company’s stock worth $352,000 after buying an additional 31 shares during the period. B & T Capital Management DBA Alpha Capital Management grew its position in shares of Martin Marietta Materials by 0.4% during the 3rd quarter. B & T Capital Management DBA Alpha Capital Management now owns 7,880 shares of the construction company’s stock worth $2,538,000 after buying an additional 33 shares during the period. Eagle Bay Advisors LLC grew its position in shares of Martin Marietta Materials by 17.0% during the 3rd quarter. Eagle Bay Advisors LLC now owns 248 shares of the construction company’s stock worth $80,000 after buying an additional 36 shares during the period. Finally, Park Avenue Securities LLC grew its position in shares of Martin Marietta Materials by 2.4% during the 3rd quarter. Park Avenue Securities LLC now owns 1,568 shares of the construction company’s stock worth $505,000 after buying an additional 37 shares during the period. Institutional investors own 93.07% of the company’s stock.

Martin Marietta Materials Company Profile

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Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregated products only.