Martin Marietta Materials (NYSE:MLM – Get Free Report) had its price objective dropped by investment analysts at Loop Capital from $710.00 to $630.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Loop Capital’s price target indicates a potential upside of 18.13% from the company’s current price.
Other research analysts have also issued reports about the stock. StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Stifel Nicolaus cut their target price on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research note on Wednesday. The Goldman Sachs Group boosted their price target on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Truist Financial upped their price objective on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Finally, Wolfe Research downgraded shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $610.25.
Get Our Latest Research Report on Martin Marietta Materials
Martin Marietta Materials Stock Down 0.3 %
Martin Marietta Materials (NYSE:MLM – Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.05. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period last year, the business earned $2.16 EPS. As a group, analysts forecast that Martin Marietta Materials will post 23.1 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Martin Marietta Materials
A number of institutional investors have recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in shares of Martin Marietta Materials in the first quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Martin Marietta Materials in the fourth quarter valued at approximately $25,000. Redmont Wealth Advisors LLC acquired a new stake in Martin Marietta Materials during the 1st quarter valued at approximately $31,000. Pinnacle Bancorp Inc. bought a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $26,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Martin Marietta Materials in the 4th quarter worth $27,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.
About Martin Marietta Materials
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.
See Also
- Five stocks we like better than Martin Marietta Materials
- Utilities Stocks Explained – How and Why to Invest in Utilities
- AbbVie Stock: A Perfect Dip for Investors to Buy
- Basic Materials Stocks Investing
- Forget NVIDIA: Super Micro Computer Stock Leads in Momentum
- What is the Hang Seng index?
- GitLab Stock Rebounds: The Inside Story of Its Comeback
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.