Martin Marietta Materials (NYSE:MLM) Earns Underperform Rating from Analysts at Exane BNP Paribas

Investment analysts at Exane BNP Paribas assumed coverage on shares of Martin Marietta Materials (NYSE:MLM) in a research note issued to investors on Wednesday, The Fly reports. The firm set an “underperform” rating on the construction company’s stock.

A number of other brokerages have also recently commented on MLM. Jefferies Financial Group increased their target price on Martin Marietta Materials from $265.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. ValuEngine cut Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their target price on Martin Marietta Materials from $265.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Longbow Research set a $265.00 target price on Martin Marietta Materials and gave the company a “buy” rating in a report on Friday, August 30th. Finally, BNP Paribas initiated coverage on Martin Marietta Materials in a report on Wednesday. They set an “underperform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $231.86.

NYSE MLM traded up $3.15 during mid-day trading on Wednesday, hitting $266.10. The stock had a trading volume of 362,526 shares, compared to its average volume of 615,785. Martin Marietta Materials has a 52-week low of $150.75 and a 52-week high of $275.99. The company has a market cap of $16.35 billion, a price-to-earnings ratio of 32.89, a P/E/G ratio of 2.44 and a beta of 1.11. The company has a 50 day simple moving average of $261.14 and a 200 day simple moving average of $231.65. The company has a quick ratio of 1.08, a current ratio of 1.86 and a debt-to-equity ratio of 0.62.



Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $3.01 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($0.07). Martin Marietta Materials had a net margin of 11.37% and a return on equity of 10.35%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the business earned $3.25 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities analysts anticipate that Martin Marietta Materials will post 9.38 earnings per share for the current fiscal year.

In other news, EVP Roselyn R. Bar sold 2,821 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $246.93, for a total transaction of $696,589.53. Following the sale, the executive vice president now owns 57,149 shares in the company, valued at $14,111,802.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman C Howard Nye sold 11,224 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $243.66, for a total value of $2,734,839.84. Following the sale, the chairman now owns 158,885 shares in the company, valued at approximately $38,713,919.10. The disclosure for this sale can be found here. Insiders have sold 21,485 shares of company stock worth $5,317,618 in the last 90 days. Insiders own 0.73% of the company’s stock.

Several hedge funds have recently bought and sold shares of MLM. Destination Wealth Management boosted its holdings in shares of Martin Marietta Materials by 825.0% during the second quarter. Destination Wealth Management now owns 111 shares of the construction company’s stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Rational Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 2,160.0% during the second quarter. Rational Advisors LLC now owns 113 shares of the construction company’s stock worth $26,000 after purchasing an additional 108 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Martin Marietta Materials during the second quarter worth $31,000. Capital Investment Advisory Services LLC boosted its holdings in shares of Martin Marietta Materials by 153.3% during the second quarter. Capital Investment Advisory Services LLC now owns 152 shares of the construction company’s stock worth $34,000 after purchasing an additional 92 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its holdings in shares of Martin Marietta Materials by 28.1% during the second quarter. Commonwealth Bank of Australia now owns 196 shares of the construction company’s stock worth $43,000 after purchasing an additional 43 shares during the last quarter.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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.

Featured Story: How is the discount rate different from the Federal Funds rate?

The Fly

Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

Receive News & Ratings for Martin Marietta Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials and related companies with MarketBeat.com's FREE daily email newsletter.