Martin Marietta Materials (NYSE:MLM) Price Target Lowered to $610.00 at Truist Financial

Martin Marietta Materials (NYSE:MLM - Free Report) had its target price reduced by Truist Financial from $670.00 to $610.00 in a report published on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the construction company's stock.

A number of other research analysts have also recently issued reports on MLM. BNP Paribas cut shares of Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. HSBC raised Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 price objective for the company in a report on Wednesday, December 11th. Wolfe Research raised Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 target price on the stock in a report on Wednesday, January 8th. Citigroup cut their price target on 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. Finally, JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $515.00 to $640.00 in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $639.43.

Martin Marietta Materials Stock Performance

NYSE:MLM traded down $4.19 during trading hours on Thursday, reaching $527.47. 687,816 shares of the company's stock were exchanged, compared to its average volume of 340,987. The firm has a market capitalization of $32.24 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 4.62 and a beta of 0.91. Martin Marietta Materials has a 1-year low of $482.72 and a 1-year high of $633.23. The company has a 50-day moving average of $534.69 and a 200 day moving average of $548.62. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released 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 return on equity of 12.53% and a net margin of 30.47%. Research analysts anticipate that Martin Marietta Materials will post 17.57 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Lee Danner & Bass Inc. acquired a new position in Martin Marietta Materials during the fourth quarter worth approximately $28,000. Asset Dedication LLC increased its holdings in shares of Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company's stock worth $30,000 after buying an additional 52 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Martin Marietta Materials in the 4th quarter worth $32,000. First Personal Financial Services acquired a new position in Martin Marietta Materials in the third quarter valued at $33,000. Finally, Kestra Investment Management LLC acquired a new position in Martin Marietta Materials in the fourth quarter valued at $35,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

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.