StockNews.com Upgrades Martin Marietta Materials (NYSE:MLM) to Hold

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

Several other research firms also recently commented on MLM. BNP Paribas upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a research report on Thursday, September 19th. Truist Financial reduced their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Stephens decreased their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an "overweight" rating for the company in a report on Friday, August 9th. Jefferies Financial Group cut their target price on Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. Finally, Morgan Stanley increased their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the company an "overweight" rating in a research note on Monday, August 26th. Four analysts have rated the stock with a hold rating, eleven 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 presently has an average rating of "Moderate Buy" and a consensus target price of $634.85.

Martin Marietta Materials Price Performance

Shares of MLM traded up $2.39 during mid-day trading on Friday, reaching $619.55. The company had a trading volume of 402,753 shares, compared to its average volume of 466,622. The company's 50 day simple moving average is $549.06 and its 200 day simple moving average is $556.83. The company has a market capitalization of $37.87 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 4.12 and a beta of 0.90. Martin Marietta Materials has a 1-year low of $448.73 and a 1-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.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly 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 firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm's revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.94 earnings per share. Analysts expect that Martin Marietta Materials will post 17.84 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. lifted its holdings in shares of Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company's stock worth $25,000 after purchasing an additional 37 shares in the last quarter. Asset Dedication LLC grew its holdings in shares of Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company's stock valued at $30,000 after buying an additional 52 shares during the last quarter. First Personal Financial Services bought a new stake in shares of Martin Marietta Materials during the third quarter worth about $33,000. Fortitude Family Office LLC lifted its position in Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company's stock valued at $34,000 after acquiring an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in Martin Marietta Materials during the 1st quarter valued at about $41,000. 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.

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