Martin Marietta Materials (MLM) Raised to “Hold” at Zacks Investment Research

Martin Marietta Materials (NYSE:MLM) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Martin Marietta is a leading supplier of construction aggregates used for construction of highways, infrastructure projects and residential, commercial and industrial building development. The company’s string of acquisitions, divestitures and attractive shareholder returns are encouraging. Increased activities in the non-residential and residential markets are expected to boost demand. However, abnormally wet weather conditions in many markets are marring Martin Marietta’s prospects. Also, shares of Martin Marietta underperformed its industry in the past year. Estimates for 2017 and 2018 have also moved down over the past 30 days reflecting analyst’s concern over the stock’s prospects.”

Several other research analysts have also recently issued reports on the company. Stephens reaffirmed a “hold” rating and issued a $250.00 price target on shares of Martin Marietta Materials in a report on Wednesday, January 3rd. DA Davidson reaffirmed a “hold” rating and issued a $225.00 price target on shares of Martin Marietta Materials in a report on Friday, November 3rd. Barclays started coverage on Martin Marietta Materials in a report on Tuesday, December 12th. They issued an “equal weight” rating and a $227.00 price target on the stock. Citigroup reaffirmed a “buy” rating and issued a $260.00 price target (down previously from $270.00) on shares of Martin Marietta Materials in a report on Monday, October 9th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $240.00 price target on shares of Martin Marietta Materials in a report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $240.50.

Shares of Martin Marietta Materials (MLM) traded down $0.40 during trading hours on Friday, reaching $226.64. The company had a trading volume of 535,600 shares, compared to its average volume of 635,508. Martin Marietta Materials has a 1 year low of $191.09 and a 1 year high of $244.32. The company has a market capitalization of $14,350.00, a PE ratio of 33.04, a price-to-earnings-growth ratio of 1.94 and a beta of 1.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 2.73.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, November 2nd. The construction company reported $2.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.45 by ($0.06). Martin Marietta Materials had a return on equity of 10.39% and a net margin of 11.03%. The firm had revenue of $1.02 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm earned $2.49 EPS. Martin Marietta Materials’s revenue for the quarter was down 1.5% on a year-over-year basis. equities analysts predict that Martin Marietta Materials will post 6.73 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of MLM. Sun Life Financial INC grew its position in 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 purchasing an additional 451 shares in the last quarter. Highlander Capital Management LLC purchased a new position in Martin Marietta Materials during the 3rd quarter worth approximately $124,000. Massey Quick Simon & CO. LLC purchased a new position in Martin Marietta Materials during the 3rd quarter worth approximately $152,000. Westwood Holdings Group Inc. purchased a new position in Martin Marietta Materials during the 2nd quarter worth approximately $187,000. Finally, Numeric Investors LLC purchased a new position in Martin Marietta Materials during the 2nd quarter worth approximately $200,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.

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About Martin Marietta Materials

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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