Martin Marietta Materials, Inc. (MLM) Receives Average Recommendation of “Hold” from Analysts
Martin Marietta Materials, Inc. (NYSE:MLM) has been assigned an average rating of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $229.67.
A number of analysts recently issued reports on the company. BidaskClub lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Zacks Investment Research lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Stephens boosted their price objective on Martin Marietta Materials from $246.00 to $250.00 and gave the company an “equal weight” rating in a research note on Thursday, May 4th. Finally, Stifel Nicolaus boosted their price objective on Martin Marietta Materials from $258.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, May 3rd.
Martin Marietta Materials (NYSE:MLM) traded down 0.98% during midday trading on Friday, reaching $204.77. The company had a trading volume of 523,317 shares. The stock’s 50 day moving average is $221.66 and its 200 day moving average is $222.91. Martin Marietta Materials has a 12-month low of $167.06 and a 12-month high of $244.32. The firm has a market capitalization of $12.87 billion, a price-to-earnings ratio of 29.47 and a beta of 1.14.
Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.38 by $0.13. Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. The company had revenue of $996.30 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm posted $1.90 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities research analysts expect that Martin Marietta Materials will post $7.14 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of MLM. Hermes Investment Management Ltd. boosted its position in Martin Marietta Materials by 2.7% in the first quarter. Hermes Investment Management Ltd. now owns 110,335 shares of the construction company’s stock worth $24,081,000 after buying an additional 2,937 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Martin Marietta Materials during the first quarter worth about $822,000. Huntington National Bank boosted its position in Martin Marietta Materials by 105.9% in the first quarter. Huntington National Bank now owns 2,491 shares of the construction company’s stock worth $544,000 after buying an additional 1,281 shares during the last quarter. Boys Arnold & Co. Inc. boosted its position in Martin Marietta Materials by 18.5% in the first quarter. Boys Arnold & Co. Inc. now owns 3,260 shares of the construction company’s stock worth $711,000 after buying an additional 510 shares during the last quarter. Finally, Everence Capital Management Inc. boosted its position in Martin Marietta Materials by 62.5% in the first quarter. Everence Capital Management Inc. now owns 2,886 shares of the construction company’s stock worth $630,000 after buying an additional 1,110 shares during the last quarter. Hedge funds and other institutional investors own 98.78% of the company’s stock.
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Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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