Martin Marietta Materials, Inc. (MLM) Receives Average Recommendation of “Buy” from Analysts

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Martin Marietta Materials, Inc. (NYSE:MLM) has received an average recommendation of “Buy” from the eleven ratings firms that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $219.56.

Several brokerages have recently issued reports on MLM. Citigroup set a $231.00 target price on shares of Martin Marietta Materials and gave the company a “buy” rating in a research note on Thursday. Nomura started coverage on shares of Martin Marietta Materials in a research note on Monday, October 29th. They set a “buy” rating and a $220.00 price objective on the stock. Stephens set a $187.00 price objective on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research note on Wednesday, October 17th. Bank of America lowered shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $225.00 to $179.00 in a research note on Wednesday, October 17th. Finally, DA Davidson set a $200.00 price objective on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research note on Thursday, October 11th.

In related news, SVP Donald A. Mccunniff sold 2,250 shares of Martin Marietta Materials stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $204.33, for a total transaction of $459,742.50. Following the transaction, the senior vice president now owns 12,649 shares of the company’s stock, valued at approximately $2,584,570.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.75% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Martin Marietta Materials by 5.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,065 shares of the construction company’s stock valued at $2,195,000 after buying an additional 633 shares in the last quarter. CIBC World Markets Inc. lifted its stake in Martin Marietta Materials by 19.9% in the third quarter. CIBC World Markets Inc. now owns 30,516 shares of the construction company’s stock valued at $5,552,000 after buying an additional 5,056 shares in the last quarter. FMR LLC lifted its stake in Martin Marietta Materials by 0.4% in the third quarter. FMR LLC now owns 1,838,515 shares of the construction company’s stock valued at $334,517,000 after buying an additional 7,195 shares in the last quarter. American International Group Inc. lifted its stake in Martin Marietta Materials by 6.0% in the third quarter. American International Group Inc. now owns 24,867 shares of the construction company’s stock valued at $4,525,000 after buying an additional 1,417 shares in the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management lifted its stake in Martin Marietta Materials by 7.2% in the third quarter. B & T Capital Management DBA Alpha Capital Management now owns 12,780 shares of the construction company’s stock valued at $2,325,000 after buying an additional 853 shares in the last quarter.

Shares of NYSE MLM traded down $4.09 during mid-day trading on Monday, hitting $184.29. The company’s stock had a trading volume of 1,188,532 shares, compared to its average volume of 1,531,507. The firm has a market capitalization of $11.96 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09. The company has a current ratio of 1.88, a quick ratio of 1.14 and a debt-to-equity ratio of 0.57. Martin Marietta Materials has a one year low of $150.75 and a one year high of $241.33.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, November 6th. The construction company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.21. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. Martin Marietta Materials had a net margin of 17.95% and a return on equity of 10.78%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.39 EPS. As a group, equities research analysts anticipate that Martin Marietta Materials will post 8.32 earnings per share for the current fiscal year.

About Martin Marietta Materials

Martin Marietta Materials, Inc, a natural-resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; 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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Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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