B. Riley Initiates Coverage on Martin Marietta Materials (NYSE:MLM)

Equities research analysts at B. Riley initiated coverage on shares of Martin Marietta Materials (NYSE:MLM) in a research report issued on Thursday, Marketbeat reports. The brokerage set a “hold” rating on the construction company’s stock.

A number of other analysts have also weighed in on MLM. Citigroup upped their price objective on shares of Martin Marietta Materials from $754.00 to $758.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Wells Fargo & Company reduced their price objective on shares of Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Finally, Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $670.63.

Martin Marietta Materials Stock Up 1.8%

Shares of NYSE MLM opened at $652.35 on Thursday. Martin Marietta Materials has a 52-week low of $441.95 and a 52-week high of $668.83. The firm has a market capitalization of $39.34 billion, a price-to-earnings ratio of 34.39 and a beta of 1.15. The stock has a 50 day moving average price of $626.04 and a 200 day moving average price of $612.04. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.07 and a current ratio of 2.97.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). Martin Marietta Materials had a net margin of 17.34% and a return on equity of 11.68%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $2.06 billion. Sell-side analysts expect that Martin Marietta Materials will post 19.53 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Perigon Wealth Management LLC raised its position in Martin Marietta Materials by 5.7% during the fourth quarter. Perigon Wealth Management LLC now owns 4,961 shares of the construction company’s stock valued at $3,089,000 after acquiring an additional 266 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Martin Marietta Materials by 8.4% during the 4th quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock worth $152,000 after purchasing an additional 19 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Martin Marietta Materials during the 4th quarter valued at approximately $402,000. Nisa Investment Advisors LLC lifted its stake in shares of Martin Marietta Materials by 7.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 9,872 shares of the construction company’s stock valued at $6,147,000 after purchasing an additional 709 shares during the period. Finally, Barlow Wealth Partners LLC purchased a new stake in Martin Marietta Materials during the fourth quarter worth $200,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Company Profile

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.