SunTrust Banks, Inc. reaffirmed their buy rating on shares of Martin Marietta Materials, Inc. (NYSE:MLM) in a report published on Friday, October 27th. They currently have a $228.00 price objective on the construction company’s stock.
Other analysts have also recently issued research reports about the company. Jefferies Group LLC restated a buy rating and set a $240.00 price objective on shares of Martin Marietta Materials in a research note on Wednesday, October 11th. Citigroup Inc. reaffirmed a buy rating and set a $260.00 target price (down from $270.00) on shares of Martin Marietta Materials in a report on Monday, October 9th. Zacks Investment Research raised Martin Marietta Materials from a sell rating to a hold rating in a report on Tuesday, September 12th. Bank of America Corporation lowered their target price on Martin Marietta Materials from $233.00 to $229.00 and set a neutral rating for the company in a report on Thursday, October 19th. Finally, BidaskClub lowered Martin Marietta Materials from a hold rating to a sell rating in a report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $242.43.
Shares of Martin Marietta Materials (MLM) traded up $0.30 during midday trading on Friday, reaching $213.25. The company’s stock had a trading volume of 262,800 shares, compared to its average volume of 649,794. Martin Marietta Materials has a 12-month low of $191.09 and a 12-month high of $244.32. The firm has a market capitalization of $13,385.94, a PE ratio of 31.04, a P/E/G ratio of 2.22 and a beta of 1.14. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.73 and a quick ratio of 1.50.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, November 2nd. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.45 by ($0.06). Martin Marietta Materials had a net margin of 13.93% and a return on equity of 14.22%. The firm had revenue of $1.02 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company earned $2.49 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. research analysts anticipate that Martin Marietta Materials will post 6.92 EPS for the current fiscal year.
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In other Martin Marietta Materials news, Director John J. Koraleski acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average cost of $198.37 per share, with a total value of $99,185.00. Following the acquisition, the director now directly owns 1,439 shares of the company’s stock, valued at approximately $285,454.43. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 8.45% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Profund Advisors LLC boosted its stake in Martin Marietta Materials by 0.3% during the 2nd quarter. Profund Advisors LLC now owns 1,600 shares of the construction company’s stock valued at $356,000 after purchasing an additional 5 shares in the last quarter. First National Bank of Hutchinson boosted its stake in Martin Marietta Materials by 0.3% during the 2nd quarter. First National Bank of Hutchinson now owns 2,214 shares of the construction company’s stock valued at $505,000 after purchasing an additional 6 shares in the last quarter. L & S Advisors Inc boosted its stake in Martin Marietta Materials by 0.8% during the 2nd quarter. L & S Advisors Inc now owns 3,091 shares of the construction company’s stock valued at $688,000 after purchasing an additional 26 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Martin Marietta Materials by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 9,431 shares of the construction company’s stock valued at $2,099,000 after purchasing an additional 27 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its stake in Martin Marietta Materials by 0.7% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 4,438 shares of the construction company’s stock valued at $988,000 after purchasing an additional 30 shares in the last quarter. 95.74% of the stock is owned by hedge funds and other institutional investors.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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