Citigroup Lowers Martin Marietta Materials (NYSE:MLM) Price Target to $646.00

Martin Marietta Materials (NYSE:MLM) had its price objective reduced by stock analysts at Citigroup from $658.00 to $646.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Citigroup’s price target would indicate a potential upside of 22.57% from the company’s current price.

Several other equities analysts also recently commented on the stock. Truist Financial lowered their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Jefferies Financial Group increased their target price on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Stephens lowered their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Stifel Nicolaus lowered their target price on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Finally, StockNews.com downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $624.18.

Martin Marietta Materials Trading Up 0.4 %

NYSE MLM opened at $527.05 on Monday. Martin Marietta Materials has a 1-year low of $389.90 and a 1-year high of $626.67. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $32.49 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 3.12 and a beta of 0.91. The firm’s fifty day simple moving average is $552.11 and its 200-day simple moving average is $569.63.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the company posted $5.60 earnings per share. The company’s revenue was down 3.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Martin Marietta Materials will post 22.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Martin Marietta Materials

A number of institutional investors have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC grew its position in Martin Marietta Materials by 35.3% during the second quarter. Fidelis Capital Partners LLC now owns 1,047 shares of the construction company’s stock worth $564,000 after buying an additional 273 shares in the last quarter. Frank Rimerman Advisors LLC grew its position in Martin Marietta Materials by 23,888.9% during the second quarter. Frank Rimerman Advisors LLC now owns 2,159 shares of the construction company’s stock worth $1,170,000 after buying an additional 2,150 shares in the last quarter. ProShare Advisors LLC grew its position in Martin Marietta Materials by 8.0% during the second quarter. ProShare Advisors LLC now owns 10,228 shares of the construction company’s stock worth $5,542,000 after buying an additional 755 shares in the last quarter. Westwood Holdings Group Inc. grew its position in Martin Marietta Materials by 1.8% during the second quarter. Westwood Holdings Group Inc. now owns 43,078 shares of the construction company’s stock worth $23,340,000 after buying an additional 782 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its position in Martin Marietta Materials by 3.8% during the second quarter. Summit Trail Advisors LLC now owns 1,480 shares of the construction company’s stock worth $802,000 after buying an additional 54 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

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.