Martin Marietta Materials (NYSE:MLM) Upgraded at Zacks Research

Martin Marietta Materials (NYSE:MLM) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the stock. Citigroup boosted their price objective on shares of Martin Marietta Materials from $780.00 to $804.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Loop Capital downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price objective for the company. in a research note on Wednesday, January 28th. Weiss Ratings downgraded shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 23rd. Stephens decreased their price objective on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Finally, Truist Financial set a $710.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 12th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $692.31.

Martin Marietta Materials Price Performance

MLM opened at $631.20 on Monday. The company has a quick ratio of 2.36, a current ratio of 3.57 and a debt-to-equity ratio of 0.53. Martin Marietta Materials has a 52-week low of $478.86 and a 52-week high of $710.97. The company has a 50 day moving average of $629.85 and a two-hundred day moving average of $629.24. The company has a market cap of $38.07 billion, a P/E ratio of 33.57, a P/E/G ratio of 2.49 and a beta of 1.19.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.19). Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the firm earned $4.79 earnings per share. Martin Marietta Materials’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts expect that Martin Marietta Materials will post 19.53 earnings per share for the current year.

Institutional Trading of Martin Marietta Materials

Several institutional investors have recently added to or reduced their stakes in MLM. Integrated Wealth Concepts LLC raised its holdings in Martin Marietta Materials by 6.6% in the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock valued at $379,000 after acquiring an additional 49 shares in the last quarter. Empowered Funds LLC raised its holdings in Martin Marietta Materials by 11.4% in the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after acquiring an additional 144 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Martin Marietta Materials by 11.1% in the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock valued at $280,000 after acquiring an additional 51 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Martin Marietta Materials by 205.9% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock valued at $143,000 after acquiring an additional 175 shares in the last quarter. Finally, Cresset Asset Management LLC raised its holdings in Martin Marietta Materials by 22.6% in the second quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock valued at $427,000 after acquiring an additional 143 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

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.