StockNews.com Downgrades Martin Marietta Materials (NYSE:MLM) to Sell

Martin Marietta Materials (NYSE:MLM - Get Free Report) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Thursday.

Other equities analysts have also issued reports about the stock. Citigroup reduced their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Loop Capital dropped their target price on shares of Martin Marietta Materials from $680.00 to $645.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. HSBC raised shares of Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 target price on the stock in a research report on Wednesday, December 11th. Truist Financial cut their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, Wolfe Research upgraded Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 target price for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $639.43.

Martin Marietta Materials Trading Down 3.2 %

Martin Marietta Materials stock traded down $16.10 during midday trading on Thursday, reaching $489.94. The stock had a trading volume of 730,657 shares, compared to its average volume of 465,940. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The firm has a market cap of $29.95 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 4.45 and a beta of 0.91. Martin Marietta Materials has a 52-week low of $482.72 and a 52-week high of $633.23. The company has a fifty day moving average of $531.34 and a 200 day moving average of $547.49.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. On average, analysts anticipate that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Martin Marietta Materials

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in Martin Marietta Materials by 223.0% during the third quarter. Blue Trust Inc. now owns 646 shares of the construction company's stock valued at $350,000 after purchasing an additional 446 shares during the period. OLD National Bancorp IN grew its stake in Martin Marietta Materials by 20.9% in the 3rd quarter. OLD National Bancorp IN now owns 462 shares of the construction company's stock valued at $249,000 after acquiring an additional 80 shares during the period. Eastern Bank acquired a new position in Martin Marietta Materials during the third quarter worth $68,000. Private Advisor Group LLC lifted its holdings in Martin Marietta Materials by 20.6% during the third quarter. Private Advisor Group LLC now owns 1,458 shares of the construction company's stock valued at $785,000 after purchasing an additional 249 shares in the last quarter. Finally, Greenleaf Trust grew its position in shares of Martin Marietta Materials by 4.2% in the third quarter. Greenleaf Trust now owns 1,135 shares of the construction company's stock valued at $611,000 after purchasing an additional 46 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, 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.