Martin Marietta Materials (NYSE:MLM) Given New $600.00 Price Target at Barclays

Martin Marietta Materials (NYSE:MLM - Get Free Report) had its price objective reduced by equities research analysts at Barclays from $645.00 to $600.00 in a report released on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the construction company's stock. Barclays's price target would indicate a potential upside of 13.75% from the company's current price.

Several other equities analysts have also commented on MLM. Raymond James lowered their price objective on Martin Marietta Materials from $640.00 to $630.00 and set an "outperform" rating for the company in a research report on Thursday, January 16th. BNP Paribas lowered shares of Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Hsbc Global Res raised shares of Martin Marietta Materials from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 11th. UBS Group began coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They set a "buy" rating and a $730.00 target price for the company. Finally, StockNews.com downgraded Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note on Saturday, February 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $639.43.

Martin Marietta Materials Trading Down 0.8 %

Shares of NYSE:MLM traded down $4.19 during midday trading on Thursday, hitting $527.47. 687,816 shares of the stock traded hands, compared to its average volume of 340,987. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The business's 50 day moving average is $534.69 and its two-hundred day moving average is $548.62. The stock has a market capitalization of $32.24 billion, a PE ratio of 16.44, a P/E/G ratio of 4.62 and a beta of 0.91. Martin Marietta Materials has a one year low of $482.72 and a one year high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released 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 net margin of 30.47% and a return on equity of 12.53%. As a group, research analysts forecast that Martin Marietta Materials will post 17.57 earnings per share for the current year.

Hedge Funds Weigh In On Martin Marietta Materials

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Lee Danner & Bass Inc. purchased a new position in shares of Martin Marietta Materials in the fourth quarter valued at about $28,000. Asset Dedication LLC raised its stake in Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company's stock valued at $30,000 after purchasing an additional 52 shares during the period. Whipplewood Advisors LLC bought a new position in Martin Marietta Materials in the 4th quarter worth approximately $32,000. First Personal Financial Services purchased a new stake in Martin Marietta Materials during the 3rd quarter valued at approximately $33,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Martin Marietta Materials during the fourth quarter valued at approximately $35,000. Institutional investors 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.