Martin Marietta Materials (NYSE:MLM) Downgraded to “Hold” Rating by BNP Paribas

Martin Marietta Materials (NYSE:MLM) was downgraded by investment analysts at BNP Paribas from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the company. Morgan Stanley raised their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. UBS Group initiated coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective for the company. HSBC raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price on the stock in a research report on Wednesday. Citigroup reduced their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Loop Capital upped their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $655.77.

Martin Marietta Materials Trading Down 0.5 %

NYSE MLM opened at $560.43 on Tuesday. The stock has a market capitalization of $34.25 billion, a P/E ratio of 17.46, a P/E/G ratio of 3.94 and a beta of 0.89. The business has a 50 day simple moving average of $577.91 and a 200 day simple moving average of $555.96. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. Martin Marietta Materials has a one year low of $474.92 and a one year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the business earned $6.94 EPS. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. Research analysts expect that Martin Marietta Materials will post 17.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MLM. Kovack Advisors Inc. bought a new stake in shares of Martin Marietta Materials in the 3rd quarter worth approximately $734,000. Benjamin Edwards Inc. boosted its position in Martin Marietta Materials by 2,448.1% during the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock worth $741,000 after purchasing an additional 1,322 shares during the period. D.A. Davidson & CO. raised its position in shares of Martin Marietta Materials by 8.5% in the third quarter. D.A. Davidson & CO. now owns 12,936 shares of the construction company’s stock valued at $6,963,000 after purchasing an additional 1,014 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Martin Marietta Materials by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock valued at $252,318,000 after buying an additional 11,749 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC grew its stake in Martin Marietta Materials by 2.2% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 193,588 shares of the construction company’s stock valued at $104,199,000 after buying an additional 4,080 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

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.