Martin Marietta Materials (NYSE:MLM) Stock Rating Lowered by Wall Street Zen

Martin Marietta Materials (NYSE:MLM) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

Other research analysts have also recently issued reports about the company. Weiss Ratings upgraded Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, June 25th. Citigroup lifted their price objective on Martin Marietta Materials from $731.00 to $737.00 and gave the company a “buy” rating in a research note on Wednesday. Truist Financial boosted their price objective on Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a report on Monday, May 4th. Oppenheimer started coverage on Martin Marietta Materials in a research note on Thursday, May 28th. They set a “market perform” rating on the stock. Finally, Raymond James Financial restated an “outperform” rating on shares of Martin Marietta Materials in a report on Monday, June 29th. Eleven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and an average target price of $682.41.

Martin Marietta Materials Trading Up 1.1%

Shares of NYSE MLM traded up $6.10 during midday trading on Friday, reaching $578.00. 450,995 shares of the stock were exchanged, compared to its average volume of 628,951. The stock has a market capitalization of $34.71 billion, a P/E ratio of 13.78, a PEG ratio of 2.46 and a beta of 1.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. The company has a 50 day simple moving average of $581.94 and a 200 day simple moving average of $615.35. Martin Marietta Materials has a twelve month low of $525.38 and a twelve month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. During the same period in the previous year, the firm earned $1.90 EPS. Martin Marietta Materials’s revenue was up 17.2% on a year-over-year basis. As a group, equities analysts expect that Martin Marietta Materials will post 19.38 earnings per share for the current year.

Hedge Funds Weigh In On Martin Marietta Materials

Several institutional investors have recently added to or reduced their stakes in the stock. Whitener Capital Management Inc. increased its stake in Martin Marietta Materials by 7.3% in the 2nd quarter. Whitener Capital Management Inc. now owns 3,175 shares of the construction company’s stock valued at $1,831,000 after buying an additional 215 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of Martin Marietta Materials by 18.3% in the second quarter. Handelsbanken Fonder AB now owns 37,395 shares of the construction company’s stock valued at $21,566,000 after acquiring an additional 5,780 shares in the last quarter. Paladin Wealth LLC boosted its holdings in shares of Martin Marietta Materials by 19.0% in the second quarter. Paladin Wealth LLC now owns 1,286 shares of the construction company’s stock valued at $742,000 after acquiring an additional 205 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of Martin Marietta Materials during the second quarter worth about $430,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Martin Marietta Materials by 69.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 805 shares of the construction company’s stock worth $464,000 after acquiring an additional 329 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.