Barclays Has Lowered Expectations for Martin Marietta Materials (NYSE:MLM) Stock Price

Martin Marietta Materials (NYSE:MLM) had its price objective cut by equities researchers at Barclays from $675.00 to $640.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Barclays‘s price objective suggests a potential upside of 6.76% from the stock’s current price.

Other research analysts also recently issued reports about the stock. B. Riley Financial initiated coverage on shares of Martin Marietta Materials in a research report on Thursday, January 15th. They set a “neutral” rating and a $700.00 price objective for the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $630.00 target price on shares of Martin Marietta Materials in a report on Thursday, February 26th. DA Davidson set a $680.00 price target on Martin Marietta Materials in a research note on Thursday, February 12th. Weiss Ratings cut Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Finally, Jefferies Financial Group restated a “buy” rating and set a $785.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $694.69.

Martin Marietta Materials Stock Up 1.8%

Shares of NYSE MLM opened at $599.48 on Tuesday. The stock has a market capitalization of $36.15 billion, a P/E ratio of 31.89, a PEG ratio of 2.31 and a beta of 1.19. The stock’s fifty day moving average is $636.64 and its 200 day moving average is $629.04. Martin Marietta Materials has a 52 week low of $441.95 and a 52 week high of $710.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.36 and a current ratio of 3.57.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.19). Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.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 prior year, the company earned $4.79 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. Sell-side analysts forecast that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Martin Marietta Materials

A number of hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC raised its position in Martin Marietta Materials by 6.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after purchasing an additional 49 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Martin Marietta Materials by 11.4% in the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock worth $673,000 after acquiring an additional 144 shares during the period. Sivia Capital Partners LLC boosted its holdings in Martin Marietta Materials by 11.1% in the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock valued at $280,000 after acquiring an additional 51 shares during the last quarter. XTX Topco Ltd bought a new stake in Martin Marietta Materials in the second quarter valued at approximately $332,000. Finally, Norges Bank acquired a new stake in Martin Marietta Materials during the 2nd quarter valued at approximately $233,811,000. 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.