Martin Marietta Materials (NYSE:MLM) Downgraded by Wall Street Zen to “Sell”

Martin Marietta Materials (NYSE:MLM) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Other research analysts have also issued reports about the stock. DA Davidson set a $680.00 price objective on shares of Martin Marietta Materials in a report on Thursday, February 12th. Morgan Stanley decreased their price objective on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a report on Monday, April 6th. Berenberg Bank set a $556.00 price objective on shares of Martin Marietta Materials and gave the stock a “hold” rating in a report on Tuesday. UBS Group set a $739.00 price objective on shares of Martin Marietta Materials in a report on Sunday, May 10th. Finally, B. Riley Financial upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective for the company in a report on Thursday, April 2nd. Eleven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus target price of $681.94.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $576.76 on Friday. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average of $591.32 and a 200-day moving average of $620.00. The firm has a market cap of $34.63 billion, a P/E ratio of 13.75, a P/E/G ratio of 2.46 and a beta of 1.10. Martin Marietta Materials has a 1-year low of $525.38 and a 1-year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the business earned $1.90 EPS. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. Sell-side analysts expect that Martin Marietta Materials will post 19.41 EPS for the current year.

Institutional Trading of Martin Marietta Materials

Several institutional investors have recently bought and sold shares of the company. Lido Advisors LLC grew its position in Martin Marietta Materials by 0.8% during the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock valued at $1,209,000 after purchasing an additional 15 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its position in Martin Marietta Materials by 3.9% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock valued at $264,000 after purchasing an additional 16 shares during the last quarter. Harbour Investments Inc. grew its position in Martin Marietta Materials by 31.4% during the 4th quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock valued at $42,000 after purchasing an additional 16 shares during the last quarter. AMG National Trust Bank grew its position in Martin Marietta Materials by 3.6% during the 1st quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock valued at $291,000 after purchasing an additional 17 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Martin Marietta Materials by 0.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock valued at $1,361,000 after purchasing an additional 17 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

About Martin Marietta Materials

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.