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

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

Several other brokerages also recently weighed in on MLM. Oppenheimer began coverage on Martin Marietta Materials in a research note on Thursday, May 28th. They set a “market perform” rating for the company. Zacks Research upgraded Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Raymond James Financial reduced their price target on Martin Marietta Materials from $690.00 to $675.00 and set an “outperform” rating for the company in a report on Wednesday. Royal Bank Of Canada lowered their price objective on Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating for the company in a research note on Monday, May 4th. Finally, B. Riley Financial upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective on the stock in a report on Thursday, April 2nd. Eleven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $681.53.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $563.57 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. Martin Marietta Materials has a 1-year low of $525.38 and a 1-year high of $710.97. The firm has a market capitalization of $33.84 billion, a P/E ratio of 13.43, a P/E/G ratio of 2.39 and a beta of 1.10. The business’s 50-day simple moving average is $578.36 and its 200-day simple moving average is $612.74.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share 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 business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the business earned $1.90 EPS. The business’s revenue was up 17.2% on a year-over-year basis. Equities analysts predict that Martin Marietta Materials will post 19.43 EPS for the current year.

Hedge Funds Weigh In On Martin Marietta Materials

Several large investors have recently added to or reduced their stakes in the company. Lido Advisors LLC boosted its holdings in Martin Marietta Materials by 0.8% in the fourth quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock worth $1,209,000 after purchasing an additional 15 shares during the period. Ashton Thomas Private Wealth LLC raised its holdings in shares of Martin Marietta Materials by 3.9% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock worth $264,000 after purchasing an additional 16 shares during the period. Harbour Investments Inc. lifted its position in shares of Martin Marietta Materials by 31.4% in the 4th quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock worth $42,000 after buying an additional 16 shares during the last quarter. AMG National Trust Bank lifted its position in shares of Martin Marietta Materials by 3.6% in the 1st quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock worth $291,000 after buying an additional 17 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Martin Marietta Materials by 0.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock valued at $1,361,000 after buying an additional 17 shares during the period. 95.04% of the stock is currently owned by 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.