Martin Marietta Materials (NYSE:MLM – Get Free Report) had its price objective decreased by research analysts at Loop Capital from $710.00 to $630.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Loop Capital’s price objective indicates a potential upside of 18.13% from the stock’s previous close.
Several other brokerages have also recently issued reports on MLM. StockNews.com cut Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Truist Financial boosted their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Stifel Nicolaus cut their price objective on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday. The Goldman Sachs Group boosted their price objective on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Citigroup boosted their price objective on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $610.25.
Martin Marietta Materials Price Performance
Martin Marietta Materials (NYSE:MLM – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The firm’s revenue was down 7.6% compared to the same quarter last year. During the same period last year, the company earned $2.16 earnings per share. On average, analysts anticipate that Martin Marietta Materials will post 23.1 EPS for the current fiscal year.
Institutional Trading of Martin Marietta Materials
Several large investors have recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. bought a new stake in Martin Marietta Materials during the fourth quarter valued at about $25,000. Pinnacle Bancorp Inc. purchased a new stake in Martin Marietta Materials during the fourth quarter valued at approximately $26,000. Riverview Trust Co purchased a new stake in Martin Marietta Materials during the first quarter valued at approximately $26,000. Exchange Traded Concepts LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter valued at approximately $27,000. Finally, Benjamin Edwards Inc. grew its stake in shares of Martin Marietta Materials by 78.8% during the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after buying an additional 26 shares during the last quarter. Institutional investors own 95.04% 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 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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