Loop Capital Has Lowered Expectations for Martin Marietta Materials (NYSE:MLM) Stock Price

Martin Marietta Materials (NYSE:MLM - Free Report) had its price target decreased by Loop Capital from $680.00 to $645.00 in a research note issued to investors on Thursday,Benzinga reports. Loop Capital currently has a buy rating on the construction company's stock.

Several other equities analysts have also recently commented on the stock. Raymond James dropped their target price on shares of Martin Marietta Materials from $630.00 to $600.00 and set an "outperform" rating for the company in a research report on Thursday. Stephens dropped their target price on shares of Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating for the company in a research report on Thursday. HSBC upgraded shares of Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 target price for the company in a research report on Wednesday, December 11th. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $515.00 to $640.00 in a research report on Wednesday, November 27th. Finally, UBS Group assumed coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They issued a "buy" rating and a $730.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $639.43.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM traded down $4.19 during mid-day trading on Thursday, reaching $527.47. 687,816 shares of the company were exchanged, compared to its average volume of 340,987. The company's 50-day simple moving average is $533.74 and its 200-day simple moving average is $548.21. 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 stock has a market capitalization of $32.24 billion, a P/E ratio of 16.44, a P/E/G ratio of 4.62 and a beta of 0.91. Martin Marietta Materials has a twelve month low of $482.72 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping the consensus estimate 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 predict that Martin Marietta Materials will post 17.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC lifted its position in shares of Martin Marietta Materials by 2.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company's stock valued at $421,000 after acquiring an additional 19 shares during the period. Checchi Capital Advisers LLC lifted its position in shares of Martin Marietta Materials by 1.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock valued at $690,000 after acquiring an additional 19 shares during the period. OneDigital Investment Advisors LLC lifted its position in shares of Martin Marietta Materials by 1.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock valued at $527,000 after acquiring an additional 19 shares during the period. iA Global Asset Management Inc. lifted its position in shares of Martin Marietta Materials by 3.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company's stock valued at $307,000 after acquiring an additional 20 shares during the period. Finally, Brooklyn Investment Group raised its holdings in Martin Marietta Materials by 4.7% during the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company's stock worth $231,000 after buying an additional 20 shares during the last quarter. 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.