Alembic Global Advisors Reiterates “Buy” Rating for Martin Marietta Materials (MLM)

Martin Marietta Materials (NYSE:MLM)‘s stock had its “buy” rating reaffirmed by Alembic Global Advisors in a report released on Wednesday.

A number of other analysts have also recently weighed in on the stock. SunTrust Banks reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Martin Marietta Materials in a report on Tuesday. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Citigroup increased their target price on shares of Martin Marietta Materials from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Stephens reiterated a “hold” rating and issued a $250.00 target price on shares of Martin Marietta Materials in a research report on Wednesday, January 3rd. Finally, Barclays assumed coverage on shares of Martin Marietta Materials in a research report on Tuesday, December 12th. They issued an “equal weight” rating and a $227.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $243.25.

Martin Marietta Materials (NYSE MLM) traded down $2.71 during mid-day trading on Wednesday, hitting $215.70. 1,401,553 shares of the company were exchanged, compared to its average volume of 759,112. 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 has a 1-year low of $191.09 and a 1-year high of $244.32. The firm has a market cap of $13,560.00, a PE ratio of 31.49, a PEG ratio of 2.22 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, February 13th. The construction company reported $1.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.46. Martin Marietta Materials had a net margin of 11.03% and a return on equity of 10.39%. The business had revenue of $911.30 million for the quarter, compared to analysts’ expectations of $924.30 million. During the same quarter last year, the company earned $1.55 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. analysts expect that Martin Marietta Materials will post 6.73 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in MLM. Iridian Asset Management LLC CT grew its position in Martin Marietta Materials by 54.6% in the 3rd quarter. Iridian Asset Management LLC CT now owns 1,785,402 shares of the construction company’s stock valued at $368,203,000 after buying an additional 630,357 shares in the last quarter. Carillon Tower Advisers Inc. bought a new position in shares of Martin Marietta Materials during the 4th quarter valued at about $97,745,000. JPMorgan Chase & Co. boosted its position in shares of Martin Marietta Materials by 22.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,578,296 shares of the construction company’s stock valued at $323,552,000 after purchasing an additional 285,376 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Martin Marietta Materials by 20.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,660,752 shares of the construction company’s stock valued at $342,497,000 after purchasing an additional 282,189 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its position in shares of Martin Marietta Materials by 18,467.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 269,606 shares of the construction company’s stock valued at $55,601,000 after purchasing an additional 268,154 shares in the last quarter. Hedge funds and other institutional investors own 98.23% 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.

Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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