Martin Marietta Materials’ (MLM) Buy Rating Reaffirmed at Jefferies Group LLC
Martin Marietta Materials, Inc. (NYSE:MLM)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Group LLC in a research report issued to clients and investors on Wednesday. They presently have a $240.00 price target on the construction company’s stock. Jefferies Group LLC’s price target points to a potential upside of 17.80% from the stock’s current price.
Several other research analysts also recently commented on MLM. BidaskClub raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Zacks Investment Research downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $260.00 price target (down from $270.00) on shares of Martin Marietta Materials in a report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Martin Marietta Materials presently has an average rating of “Hold” and a consensus price target of $237.17.
Martin Marietta Materials (NYSE:MLM) traded down 0.69% during midday trading on Wednesday, reaching $203.73. The company’s stock had a trading volume of 371,067 shares. Martin Marietta Materials has a 12 month low of $167.06 and a 12 month high of $244.32. The stock has a 50-day moving average price of $204.15 and a 200 day moving average price of $217.83. The company has a market cap of $12.80 billion, a PE ratio of 29.32 and a beta of 1.13.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 firm had revenue of $996.30 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $1.90 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts expect that Martin Marietta Materials will post $7.14 earnings per share for the current fiscal year.
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In related news, Director John J. Koraleski acquired 500 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was bought at an average cost of $198.37 per share, with a total value of $99,185.00. Following the acquisition, the director now owns 1,439 shares of the company’s stock, valued at approximately $285,454.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.45% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Sun Life Financial INC lifted its holdings in shares of Martin Marietta Materials by 6,442.9% during the 2nd quarter. Sun Life Financial INC now owns 458 shares of the construction company’s stock worth $102,000 after acquiring an additional 451 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Martin Marietta Materials by 130.9% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock worth $120,000 after acquiring an additional 305 shares during the last quarter. Dupont Capital Management Corp bought a new stake in shares of Martin Marietta Materials during the 2nd quarter worth $128,000. Northwest Investment Counselors LLC bought a new stake in shares of Martin Marietta Materials during the 2nd quarter worth $134,000. Finally, FNY Partners Fund LP bought a new stake in shares of Martin Marietta Materials during the 1st quarter worth $174,000. 95.78% of the stock is owned by institutional investors.
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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