Martin Marietta Materials (NYSE:MLM) Given New $653.00 Price Target at Stifel Nicolaus

Martin Marietta Materials (NYSE:MLM) had its price target hoisted by investment analysts at Stifel Nicolaus from $629.00 to $653.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus‘s target price indicates a potential upside of 23.57% from the stock’s current price.

Several other equities analysts have also commented on the stock. Wolfe Research set a $648.00 target price on shares of Martin Marietta Materials in a report on Tuesday, August 4th. Morgan Stanley reduced their price objective on Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Sanford C. Bernstein cut shares of Martin Marietta Materials to an “underweight” rating in a research report on Wednesday, September 2nd. Weiss Ratings cut shares of Martin Marietta Materials from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 3rd. Finally, HSBC lowered their price target on shares of Martin Marietta Materials from $750.00 to $665.00 and set a “buy” rating for the company in a report on Tuesday, September 8th. Fifteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $635.85.

Martin Marietta Materials Trading Down 0.5%

Shares of NYSE:MLM opened at $528.45 on Wednesday. The business’s 50 day simple moving average is $503.19 and its 200 day simple moving average is $572.25. Martin Marietta Materials has a 1 year low of $464.92 and a 1 year high of $710.97. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.63 and a quick ratio of 0.91. The company has a market capitalization of $37.58 billion, a P/E ratio of 13.98, a P/E/G ratio of 2.92 and a beta of 1.02.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, November 4th. The construction company reported $5.47 earnings per share for the quarter, missing analysts’ consensus estimates of $5.99 by ($0.52). The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.24 billion. Martin Marietta Materials had a net margin of 31.88% and a return on equity of 7.96%. The business’s revenue was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.85 earnings per share. On average, research analysts anticipate that Martin Marietta Materials will post 15.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Martin Marietta Materials

A number of hedge funds have recently modified their holdings of MLM. Meeder Asset Management Inc. grew its stake in shares of Martin Marietta Materials by 67.9% in the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after purchasing an additional 19 shares during the last quarter. CoreCap Advisors LLC lifted its stake in shares of Martin Marietta Materials by 370.0% in the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock worth $27,000 after acquiring an additional 37 shares during the period. Activest Wealth Management lifted its stake in shares of Martin Marietta Materials by 1,633.3% in the third quarter. Activest Wealth Management now owns 52 shares of the construction company’s stock worth $25,000 after acquiring an additional 49 shares during the period. WestEnd Advisors LLC boosted its holdings in Martin Marietta Materials by 1,900.0% in the third quarter. WestEnd Advisors LLC now owns 60 shares of the construction company’s stock valued at $29,000 after acquiring an additional 57 shares during the last quarter. Finally, EFG International AG bought a new stake in Martin Marietta Materials in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc. is a U.S.-based supplier of building materials used in construction and infrastructure projects. Its products include crushed stone, sand and gravel, cement, ready-mixed concrete and asphalt. The company also produces specialty products through its magnesia-based business, including lime, chemicals and products used in industrial and environmental applications. Its construction materials operations serve markets across the United States. Martin Marietta traces its roots to 1939 and has grown through acquisitions and expansion of its materials operations.