Raymond James Lowers Martin Marietta Materials (NYSE:MLM) Price Target to $600.00

Martin Marietta Materials (NYSE:MLM) had its price target reduced by Raymond James from $630.00 to $600.00 in a research report report published on Thursday,Benzinga reports. They currently have an outperform rating on the construction company’s stock.

Several other research analysts have also recently weighed in on the stock. 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. Stephens dropped their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research report on Thursday. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $515.00 to $640.00 in a research report on Wednesday, November 27th. UBS Group assumed coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $730.00 target price for the company. Finally, Barclays dropped their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $639.43.

Martin Marietta Materials Stock Performance

MLM stock opened at $531.75 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The company has a 50 day moving average price of $536.78 and a 200 day moving average price of $549.65. Martin Marietta Materials has a fifty-two week low of $482.72 and a fifty-two week high of $633.23. The stock has a market capitalization of $32.50 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 4.62 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping 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%. Analysts forecast that Martin Marietta Materials will post 17.57 EPS for the current year.

Hedge Funds Weigh In On Martin Marietta Materials

A number of large investors have recently added to or reduced their stakes in MLM. Proficio Capital Partners LLC increased its holdings in Martin Marietta Materials by 54,277.3% during the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock worth $474,370,000 after purchasing an additional 916,743 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Martin Marietta Materials by 76.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after purchasing an additional 704,460 shares in the last quarter. Norges Bank bought a new position in Martin Marietta Materials during the 4th quarter worth about $306,863,000. JPMorgan Chase & Co. increased its holdings in Martin Marietta Materials by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after purchasing an additional 506,705 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Martin Marietta Materials during the 4th quarter worth about $196,374,000. Institutional investors 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.