Barclays Has Lowered Expectations for Martin Marietta Materials (NYSE:MLM) Stock Price

Martin Marietta Materials (NYSE:MLM) had its price objective cut by equities research analysts at Barclays from $645.00 to $600.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Barclays‘s price objective would indicate a potential upside of 16.12% from the company’s current price.

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 research report on Wednesday, December 11th. Citigroup dropped their target price on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a report on Monday, January 6th. HSBC raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target for the company in a research note on Wednesday, December 11th. Loop Capital boosted their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, BNP Paribas cut Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $645.50.

Martin Marietta Materials Stock Down 2.3 %

MLM stock opened at $516.72 on Thursday. The stock has a market cap of $31.58 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 4.62 and a beta of 0.91. The firm’s 50-day simple moving average is $538.08 and its 200 day simple moving average is $549.88. Martin Marietta Materials has a fifty-two week low of $482.72 and a fifty-two week high of $633.23. 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 (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. As a group, sell-side analysts predict that Martin Marietta Materials will post 17.57 EPS for the current year.

Hedge Funds Weigh In On Martin Marietta Materials

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MLM. Lee Danner & Bass Inc. purchased a new stake in shares of Martin Marietta Materials in the fourth quarter valued at $28,000. Asset Dedication LLC lifted its stake in Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares in the last quarter. First Personal Financial Services purchased a new stake in Martin Marietta Materials in the 3rd quarter worth about $33,000. Whipplewood Advisors LLC acquired a new stake in Martin Marietta Materials during the 4th quarter worth about $32,000. Finally, Kestra Investment Management LLC purchased a new position in Martin Marietta Materials during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.