Truist Financial Cuts Martin Marietta Materials (NYSE:MLM) Price Target to $610.00

Martin Marietta Materials (NYSE:MLM) had its price objective trimmed by Truist Financial from $670.00 to $610.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other research analysts also recently issued reports on MLM. Loop Capital upped their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Raymond James reduced their target price on Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, January 16th. StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday, February 8th. Barclays decreased their target price on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Morgan Stanley dropped their price target on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $639.43.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $527.47 on Thursday. Martin Marietta Materials has a 52 week low of $482.72 and a 52 week high of $633.23. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The stock has a market cap of $32.24 billion, a P/E ratio of 16.44, a P/E/G ratio of 4.62 and a beta of 0.91. The business’s 50 day moving average price is $534.69 and its 200-day moving average price is $548.93.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. Equities research analysts anticipate that Martin Marietta Materials will post 17.57 earnings per share for the current fiscal year.

Institutional Trading of Martin Marietta Materials

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lee Danner & Bass Inc. bought a new position in shares of Martin Marietta Materials during the 4th quarter valued at approximately $28,000. Asset Dedication LLC boosted its position in shares of Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares during the period. Whipplewood Advisors LLC purchased a new stake in shares of Martin Marietta Materials in the fourth quarter worth $32,000. First Personal Financial Services bought a new stake in shares of Martin Marietta Materials during the 3rd quarter valued at $33,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Martin Marietta Materials during the 4th quarter valued at $35,000. Hedge funds and other 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.