Raymond James Lowers Martin Marietta Materials (NYSE:MLM) Price Target to $600.00

Martin Marietta Materials (NYSE:MLM - Free Report) had its price objective lowered by Raymond James from $630.00 to $600.00 in a research report released on Thursday morning,Benzinga reports. Raymond James currently has an outperform rating on the construction company's stock.

MLM has been the subject of several other reports. Loop Capital raised their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Stephens lowered 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 note on Thursday. Citigroup lowered their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Barclays lowered their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, HSBC raised 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 note on Wednesday, December 11th. One research 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $639.43.

Martin Marietta Materials Price Performance

Shares of NYSE MLM traded down $4.19 during mid-day trading on Thursday, reaching $527.47. The company's stock had a trading volume of 687,816 shares, compared to its average volume of 340,987. The stock has a 50-day moving average of $534.69 and a two-hundred day moving average of $548.62. 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. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. Martin Marietta Materials has a 1-year low of $482.72 and a 1-year high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating 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%. On average, equities research analysts anticipate that Martin Marietta Materials will post 17.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in Martin Marietta Materials by 7.0% during the third quarter. CWM LLC now owns 1,749 shares of the construction company's stock worth $942,000 after purchasing an additional 114 shares in the last quarter. Ritholtz Wealth Management raised its holdings in Martin Marietta Materials by 67.0% during the third quarter. Ritholtz Wealth Management now owns 765 shares of the construction company's stock worth $412,000 after purchasing an additional 307 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Martin Marietta Materials during the third quarter worth approximately $209,000. Swedbank AB raised its holdings in Martin Marietta Materials by 326.4% during the third quarter. Swedbank AB now owns 3,492 shares of the construction company's stock worth $1,880,000 after purchasing an additional 2,673 shares in the last quarter. Finally, Asset Dedication LLC raised its holdings in Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company's stock worth $30,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other 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.