Martin Marietta Materials (MLM) PT Raised to $265.00 at Citigroup

Martin Marietta Materials (NYSE:MLM) had its price objective hoisted by investment analysts at Citigroup from $245.00 to $265.00 in a report released on Thursday. The brokerage presently has a “buy” rating on the construction company’s stock. Citigroup’s price objective indicates a potential upside of 11.28% from the stock’s current price.

MLM has been the topic of several other reports. Zacks Investment Research raised shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Friday, January 19th. Stephens restated a “hold” rating and set a $250.00 price objective on shares of Martin Marietta Materials in a report on Wednesday, January 3rd. DA Davidson restated a “hold” rating and set a $225.00 price objective on shares of Martin Marietta Materials in a report on Friday, November 3rd. Barclays initiated coverage on shares of Martin Marietta Materials in a report on Tuesday, December 12th. They set an “equal weight” rating and a $227.00 price objective on the stock. Finally, Jefferies Group restated a “buy” rating and set a $240.00 price objective on shares of Martin Marietta Materials in a report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $241.13.

Shares of Martin Marietta Materials (NYSE:MLM) traded up $5.87 during midday trading on Thursday, reaching $238.14. 653,480 shares of the company traded hands, compared to its average volume of 611,841. The company has a market capitalization of $14,970.00, a price-to-earnings ratio of 34.71, a PEG ratio of 1.93 and a beta of 1.12. Martin Marietta Materials has a fifty-two week low of $191.09 and a fifty-two week high of $244.32. 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 (NYSE:MLM) last issued its earnings results on Thursday, November 2nd. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.45 by ($0.06). The company had revenue of $1.02 million for the quarter, compared to the consensus estimate of $1.07 billion. Martin Marietta Materials had a return on equity of 10.39% and a net margin of 11.03%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.49 earnings per share. equities analysts anticipate that Martin Marietta Materials will post 6.75 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BerganKDV Wealth Management LLC raised its holdings in Martin Marietta Materials by 25.1% during the third quarter. BerganKDV Wealth Management LLC now owns 5,709 shares of the construction company’s stock worth $1,177,000 after buying an additional 1,146 shares during the last quarter. Ackerman Capital Advisors LLC purchased a new stake in shares of Martin Marietta Materials in the second quarter valued at about $325,000. Victory Capital Management Inc. raised its holdings in shares of Martin Marietta Materials by 10.9% in the third quarter. Victory Capital Management Inc. now owns 20,135 shares of the construction company’s stock valued at $4,153,000 after purchasing an additional 1,982 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Martin Marietta Materials by 66.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,120 shares of the construction company’s stock valued at $644,000 after purchasing an additional 1,245 shares during the last quarter. Finally, Advisor Group Inc. raised its holdings in shares of Martin Marietta Materials by 24.7% in the second quarter. Advisor Group Inc. now owns 4,438 shares of the construction company’s stock valued at $989,000 after purchasing an additional 880 shares during the last quarter. Hedge funds and other institutional investors own 97.42% 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.