Truist Financial Lowers Martin Marietta Materials (NYSE:MLM) Price Target to $610.00

Martin Marietta Materials (NYSE:MLM) had its price target reduced by Truist Financial from $670.00 to $610.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

MLM has been the topic of several other research reports. Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. Loop Capital lifted their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Barclays decreased their price target on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $639.43.

Martin Marietta Materials Price Performance

MLM stock opened at $531.75 on Thursday. The firm has a market cap of $32.50 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 4.62 and a beta of 0.91. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials has a 12-month low of $482.72 and a 12-month high of $633.23. The company’s fifty day simple moving average is $536.78 and its 200 day simple moving average is $549.65.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. On average, analysts expect that Martin Marietta Materials will post 17.57 earnings per share for the current year.

Institutional Investors Weigh In On Martin Marietta Materials

Institutional investors have recently added to or reduced their stakes in the company. Franklin Street Advisors Inc. NC grew its position in Martin Marietta Materials by 15.5% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company’s stock worth $13,037,000 after purchasing an additional 3,384 shares in the last quarter. Sanctuary Advisors LLC grew its position in Martin Marietta Materials by 18.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company’s stock worth $4,914,000 after purchasing an additional 1,286 shares in the last quarter. RMR Wealth Builders grew its position in Martin Marietta Materials by 431.3% in the 4th quarter. RMR Wealth Builders now owns 2,391 shares of the construction company’s stock worth $1,235,000 after purchasing an additional 1,941 shares in the last quarter. Kovack Advisors Inc. purchased a new position in Martin Marietta Materials in the third quarter valued at about $734,000. Finally, Benjamin Edwards Inc. boosted its stake in Martin Marietta Materials by 2,448.1% in the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock valued at $741,000 after acquiring an additional 1,322 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.