Martin Marietta Materials (NYSE:MLM) Upgraded at JPMorgan Chase & Co.

Martin Marietta Materials (NYSE:MLM - Get Free Report) was upgraded by research analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage currently has a $640.00 price target on the construction company's stock, up from their prior price target of $515.00. JPMorgan Chase & Co.'s price objective indicates a potential upside of 7.22% from the company's previous close.

MLM has been the subject of several other reports. Barclays increased their price target on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an "overweight" rating in a report on Tuesday, October 29th. Truist Financial cut their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a "buy" rating for the company in a report on Friday, August 9th. Jefferies Financial Group cut their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. Stephens cut their price target on shares of Martin Marietta Materials from $650.00 to $610.00 and set an "overweight" rating for the company in a report on Friday, August 9th. Finally, Citigroup cut their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a "buy" rating for the company in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Martin Marietta Materials presently has an average rating of "Moderate Buy" and an average price target of $644.46.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $596.93 on Wednesday. The company has a 50-day simple moving average of $567.95 and a 200-day simple moving average of $556.08. Martin Marietta Materials has a one year low of $456.83 and a one year high of $633.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The stock has a market capitalization of $36.48 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 4.10 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts' consensus estimates of $6.41 by ($0.50). The business had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Martin Marietta Materials's quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $6.94 earnings per share. On average, analysts predict that Martin Marietta Materials will post 17.58 EPS for the current year.

Institutional Trading of Martin Marietta Materials

Large investors have recently modified their holdings of the business. Newbridge Financial Services Group Inc. grew its position in shares of Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company's stock valued at $25,000 after purchasing an additional 37 shares during the last quarter. Asset Dedication LLC grew its position in shares of Martin Marietta Materials by 1,300.0% in the third 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 last quarter. First Personal Financial Services acquired a new stake in shares of Martin Marietta Materials in the third quarter valued at approximately $33,000. Fortitude Family Office LLC grew its position in shares of Martin Marietta Materials by 186.4% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company's stock valued at $34,000 after purchasing an additional 41 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Martin Marietta Materials in the first quarter valued at approximately $41,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

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.

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