Martin Marietta Materials (NYSE:MLM) Sets New 12-Month Low – Should You Sell?

Martin Marietta Materials, Inc. (NYSE:MLM)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $482.72 and last traded at $507.81, with a volume of 73634 shares. The stock had previously closed at $529.00.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target on the stock in a report on Wednesday, December 11th. Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $515.00 to $640.00 in a research note on Wednesday, November 27th. Truist Financial reduced their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, UBS Group initiated coverage on Martin Marietta Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $730.00 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $639.43.

Martin Marietta Materials Trading Up 2.8 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The company has a market capitalization of $32.50 billion, a P/E ratio of 16.57, a PEG ratio of 4.62 and a beta of 0.91. The company’s fifty day simple moving average is $536.78 and its 200-day simple moving average is $549.65.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Research analysts predict that Martin Marietta Materials, Inc. will post 17.57 earnings per share for the current year.

Institutional Investors Weigh In On Martin Marietta Materials

A number of hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC grew its stake in Martin Marietta Materials by 2.5% in the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock valued at $421,000 after purchasing an additional 19 shares during the last quarter. Checchi Capital Advisers LLC grew its position in shares of Martin Marietta Materials by 1.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock worth $690,000 after buying an additional 19 shares during the last quarter. iA Global Asset Management Inc. raised its stake in shares of Martin Marietta Materials by 3.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock worth $307,000 after acquiring an additional 20 shares in the last quarter. Brooklyn Investment Group lifted its position in Martin Marietta Materials by 4.7% during the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock valued at $231,000 after acquiring an additional 20 shares during the last quarter. Finally, Financial Counselors Inc. boosted its stake in Martin Marietta Materials by 1.9% in the third quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company’s stock valued at $604,000 after acquiring an additional 21 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

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.