Martin Marietta Materials (MLM) Stock Rating Upgraded by ValuEngine

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Martin Marietta Materials (NYSE:MLM) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Several other brokerages have also recently issued reports on MLM. Bank of America lowered their target price on shares of Martin Marietta Materials to $247.00 and set a “buy” rating for the company in a report on Wednesday, July 25th. Stifel Nicolaus upped their target price on shares of Martin Marietta Materials from $256.00 to $260.00 and gave the company a “buy” rating in a report on Friday, July 27th. Citigroup lowered their target price on shares of Martin Marietta Materials from $262.00 to $250.00 and set a “buy” rating for the company in a report on Monday, July 30th. Stephens restated a “hold” rating and issued a $233.00 target price on shares of Martin Marietta Materials in a report on Wednesday, August 1st. Finally, Barclays set a $215.00 target price on shares of Martin Marietta Materials and gave the company a “hold” rating in a report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Martin Marietta Materials presently has a consensus rating of “Hold” and a consensus price target of $219.11.

NYSE MLM opened at $188.97 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.88 and a debt-to-equity ratio of 0.57. Martin Marietta Materials has a 52 week low of $150.75 and a 52 week high of $241.33. The company has a market cap of $11.76 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.87 and a beta of 1.09.

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. Martin Marietta Materials had a net margin of 17.95% and a return on equity of 10.78%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the business posted $2.39 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, research analysts expect that Martin Marietta Materials will post 8.15 EPS for the current fiscal year.

In related news, SVP Donald A. Mccunniff sold 1,476 shares of the stock in a transaction on Friday, November 9th. The shares were sold at an average price of $185.50, for a total transaction of $273,798.00. Following the completion of the sale, the senior vice president now owns 14,467 shares in the company, valued at approximately $2,683,628.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Donald A. Mccunniff sold 2,250 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $204.33, for a total transaction of $459,742.50. Following the sale, the senior vice president now owns 12,649 shares of the company’s stock, valued at approximately $2,584,570.17. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

A number of large investors have recently modified their holdings of MLM. Atria Investments LLC acquired a new stake in Martin Marietta Materials during the 2nd quarter worth $260,000. Essex Investment Management Co. LLC acquired a new stake in Martin Marietta Materials during the 2nd quarter worth $796,000. Retirement Systems of Alabama boosted its stake in Martin Marietta Materials by 284.2% during the 2nd quarter. Retirement Systems of Alabama now owns 115,254 shares of the construction company’s stock worth $25,740,000 after purchasing an additional 85,252 shares during the period. Pendal Group Ltd raised its position in Martin Marietta Materials by 16.0% during the 2nd quarter. Pendal Group Ltd now owns 7,415 shares of the construction company’s stock worth $1,656,000 after buying an additional 1,022 shares during the last quarter. Finally, Amalgamated Bank raised its position in Martin Marietta Materials by 6.5% during the 2nd quarter. Amalgamated Bank now owns 9,653 shares of the construction company’s stock worth $2,156,000 after buying an additional 592 shares during the last quarter.

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.

See Also: Liquidity

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Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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