Martin Marietta Materials (NYSE:MLM) Raised to “Buy” at B. Riley Financial

Martin Marietta Materials (NYSE:MLM) was upgraded by investment analysts at B. Riley Financial from a “neutral” rating to a “buy” rating in a report issued on Thursday, MarketBeat reports. The brokerage currently has a $700.00 price objective on the construction company’s stock. B. Riley Financial’s price target would suggest a potential upside of 17.16% from the stock’s current price.

Several other research analysts have also recently weighed in on MLM. Citigroup raised their target price on Martin Marietta Materials from $780.00 to $804.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. DA Davidson set a $680.00 price target on shares of Martin Marietta Materials in a report on Thursday, February 12th. Morgan Stanley reduced their price objective on shares of Martin Marietta Materials from $706.00 to $702.00 and set an “overweight” rating for the company in a research report on Monday, March 9th. Wells Fargo & Company lowered their price objective on shares of Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 12th. Finally, Truist Financial set a $710.00 target price on shares of Martin Marietta Materials in a report on Thursday, February 12th. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $694.69.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $597.49 on Thursday. The stock has a market cap of $36.03 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 2.34 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. Martin Marietta Materials has a 12 month low of $441.95 and a 12 month high of $710.97. The stock’s 50 day moving average price is $634.51 and its 200 day moving average price is $628.73.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the business posted $4.79 earnings per share. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts anticipate that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Institutional Trading of Martin Marietta Materials

Several institutional investors and hedge funds have recently bought and sold shares of the stock. J. Derek Lewis & Associates Inc. purchased a new position in shares of Martin Marietta Materials in the fourth quarter worth approximately $215,000. Stance Capital LLC purchased a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $1,375,000. Rockefeller Capital Management L.P. lifted its position in shares of Martin Marietta Materials by 32.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 14,382 shares of the construction company’s stock valued at $8,955,000 after acquiring an additional 3,554 shares in the last quarter. Osbon Capital Management LLC acquired a new position in Martin Marietta Materials in the 4th quarter worth approximately $85,000. Finally, Worthington Financial Partners LLC acquired a new position in Martin Marietta Materials in the 4th quarter worth approximately $967,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.