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

Martin Marietta Materials (NYSE:MLM) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Several other research firms also recently commented on MLM. Citigroup boosted their target price on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Truist Financial boosted their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Stephens boosted their target price on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. HSBC raised shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $376.00 to $543.00 in a report on Thursday, February 22nd. Finally, Stifel Nicolaus boosted their target price on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $588.69.

Martin Marietta Materials Stock Performance

MLM opened at $589.57 on Wednesday. The firm has a market cap of $36.39 billion, a P/E ratio of 17.47, a PEG ratio of 2.84 and a beta of 0.95. Martin Marietta Materials has a 1-year low of $366.64 and a 1-year high of $626.67. The company has a 50 day simple moving average of $597.62 and a two-hundred day simple moving average of $520.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The company’s revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.16 earnings per share. Equities analysts forecast that Martin Marietta Materials will post 21.3 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Sue W. Cole sold 1,724 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total value of $936,959.52. Following the sale, the director now owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Sue W. Cole sold 1,724 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total value of $936,959.52. Following the sale, the director now owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the completion of the sale, the executive vice president now directly owns 59,970 shares in the company, valued at approximately $36,179,301.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,724 shares of company stock valued at $16,033,760. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Haverford Trust Co bought a new position in shares of Martin Marietta Materials in the first quarter worth about $211,000. Nordea Investment Management AB grew its holdings in shares of Martin Marietta Materials by 2.7% in the first quarter. Nordea Investment Management AB now owns 4,271 shares of the construction company’s stock worth $2,619,000 after purchasing an additional 113 shares during the last quarter. Fidelis Capital Partners LLC grew its holdings in shares of Martin Marietta Materials by 5.7% in the first quarter. Fidelis Capital Partners LLC now owns 774 shares of the construction company’s stock worth $475,000 after purchasing an additional 42 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in Martin Marietta Materials by 9.7% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,716 shares of the construction company’s stock worth $1,054,000 after acquiring an additional 152 shares in the last quarter. Finally, Schear Investment Advisers LLC grew its holdings in Martin Marietta Materials by 37.8% during the 1st quarter. Schear Investment Advisers LLC now owns 2,270 shares of the construction company’s stock worth $1,394,000 after acquiring an additional 623 shares in the last quarter. 95.04% of the stock is currently 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.