Morgan Stanley Issues Pessimistic Forecast for Martin Marietta Materials (NYSE:MLM) Stock Price

Martin Marietta Materials (NYSE:MLM) had its target price decreased by equities researchers at Morgan Stanley from $706.00 to $702.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. Morgan Stanley’s target price suggests a potential upside of 18.20% from the company’s current price.

A number of other brokerages also recently weighed in on MLM. Jefferies Financial Group restated a “buy” rating and set a $785.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Loop Capital downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 target price for the company. in a research report on Wednesday, January 28th. Royal Bank Of Canada reissued a “sector perform” rating and set a $630.00 price target on shares of Martin Marietta Materials in a report on Thursday, February 26th. Stephens cut their price objective on Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Finally, Zacks Research lowered Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Friday, February 13th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $696.88.

Martin Marietta Materials Stock Down 2.6%

NYSE:MLM traded down $16.08 on Monday, reaching $593.91. 53,075 shares of the stock traded hands, compared to its average volume of 505,194. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $35.82 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 2.34 and a beta of 1.13. Martin Marietta Materials has a 12 month low of $441.95 and a 12 month high of $710.97. The company’s fifty day simple moving average is $657.46 and its 200 day simple moving average is $633.14.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.19). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. Martin Marietta Materials’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the business earned $4.79 EPS. Equities analysts predict that Martin Marietta Materials will post 19.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in Martin Marietta Materials by 51.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after acquiring an additional 836,120 shares during the period. Norges Bank purchased a new stake in shares of Martin Marietta Materials in the fourth quarter worth $354,681,000. Bank of America Corp DE raised its position in shares of Martin Marietta Materials by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock valued at $1,284,938,000 after purchasing an additional 565,856 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Martin Marietta Materials by 241.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 303,031 shares of the construction company’s stock valued at $188,686,000 after purchasing an additional 214,270 shares during the period. Finally, Interval Partners LP purchased a new position in shares of Martin Marietta Materials during the 4th quarter valued at $128,996,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.