Martin Marietta Materials (NYSE:MLM) had its target price boosted by equities research analysts at Morgan Stanley from $372.00 to $408.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Morgan Stanley’s target price points to a potential upside of 8.17% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the company. Exane BNP Paribas cut Martin Marietta Materials from an “outperform” rating to a “neutral” rating and set a $360.00 price objective for the company. in a research report on Wednesday, January 27th. JPMorgan Chase & Co. increased their price objective on Martin Marietta Materials from $310.00 to $335.00 and gave the company a “neutral” rating in a research report on Friday, January 22nd. Raymond James initiated coverage on Martin Marietta Materials in a research report on Wednesday, February 3rd. They issued a “market perform” rating for the company. Barclays increased their price objective on Martin Marietta Materials from $275.00 to $380.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 4th. Finally, DA Davidson upped their target price on Martin Marietta Materials from $230.00 to $335.00 and gave the company a “neutral” rating in a research note on Wednesday, February 10th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $289.24.
Shares of Martin Marietta Materials stock opened at $377.20 on Monday. The stock has a market capitalization of $23.53 billion, a P/E ratio of 35.32, a PEG ratio of 5.79 and a beta of 0.69. The company has a quick ratio of 1.85, a current ratio of 3.27 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average price of $352.03 and a two-hundred day moving average price of $310.09. Martin Marietta Materials has a 12-month low of $166.53 and a 12-month high of $383.71.
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Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, May 4th. The construction company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.54. Martin Marietta Materials had a return on equity of 12.22% and a net margin of 14.38%. The firm had revenue of $982.40 million during the quarter, compared to analysts’ expectations of $968.53 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. Sell-side analysts anticipate that Martin Marietta Materials will post 10.76 earnings per share for the current year.
In other Martin Marietta Materials news, CEO C Howard Nye sold 3,052 shares of the stock in a transaction on Tuesday, March 9th. The stock was sold at an average price of $335.06, for a total transaction of $1,022,603.12. Following the completion of the transaction, the chief executive officer now directly owns 101,226 shares in the company, valued at $33,916,783.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.73% of the company’s stock.
Several large investors have recently made changes to their positions in MLM. Baillie Gifford & Co. increased its stake in shares of Martin Marietta Materials by 40.2% in the first quarter. Baillie Gifford & Co. now owns 3,786,796 shares of the construction company’s stock valued at $1,271,682,000 after buying an additional 1,085,670 shares in the last quarter. Norges Bank acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at $156,528,000. Morgan Stanley increased its stake in shares of Martin Marietta Materials by 20.8% in the fourth quarter. Morgan Stanley now owns 2,908,835 shares of the construction company’s stock valued at $826,022,000 after buying an additional 501,135 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of Martin Marietta Materials in the first quarter valued at $113,608,000. Finally, Aristotle Capital Management LLC increased its stake in shares of Martin Marietta Materials by 4.8% in the fourth quarter. Aristotle Capital Management LLC now owns 3,279,463 shares of the construction company’s stock valued at $925,821,000 after buying an additional 150,641 shares in the last quarter. Institutional investors own 97.77% of the company’s stock.
Martin Marietta Materials Company Profile
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 used 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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