Martin Marietta Materials (NYSE:MLM) Upgraded to Hold at Wall Street Zen

Martin Marietta Materials (NYSE:MLM) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other research firms have also issued reports on MLM. Morgan Stanley lowered their target price 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. Barclays dropped their target price on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. UBS Group set a $739.00 price target on Martin Marietta Materials in a report on Sunday, May 10th. Berenberg Bank set a $556.00 price target on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research note on Tuesday, June 2nd. Finally, Oppenheimer initiated coverage on shares of Martin Marietta Materials in a research report on Thursday, May 28th. They set a “market perform” rating on the stock. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $681.94.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $599.97 on Friday. The company’s fifty day moving average price is $584.98 and its 200-day moving average price is $616.91. The stock has a market cap of $36.03 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 2.55 and a beta of 1.10. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. Martin Marietta Materials has a 12 month low of $525.38 and a 12 month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the company posted $1.90 EPS. Martin Marietta Materials’s revenue was up 17.2% on a year-over-year basis. On average, equities analysts expect that Martin Marietta Materials will post 19.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Martin Marietta Materials

Several hedge funds and other institutional investors have recently modified their holdings of MLM. Douglass Winthrop Advisors LLC increased its holdings in shares of Martin Marietta Materials by 0.8% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 232,234 shares of the construction company’s stock worth $146,372,000 after buying an additional 1,939 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Martin Marietta Materials by 141.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 117,872 shares of the construction company’s stock valued at $74,292,000 after buying an additional 69,016 shares in the last quarter. Gradient Investments LLC lifted its holdings in shares of Martin Marietta Materials by 9.7% in the 4th quarter. Gradient Investments LLC now owns 44,209 shares of the construction company’s stock valued at $27,527,000 after acquiring an additional 3,903 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Martin Marietta Materials by 14,332.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company’s stock valued at $48,438,000 after acquiring an additional 77,253 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Martin Marietta Materials by 1.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 411,482 shares of the construction company’s stock worth $259,344,000 after acquiring an additional 5,038 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

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.