SunTrust Banks, Inc. reissued their buy rating on shares of Martin Marietta Materials, Inc. (NYSE:MLM) in a research report released on Friday, October 27th. SunTrust Banks, Inc. currently has a $228.00 price target on the construction company’s stock.
A number of other analysts have also commented on MLM. Zacks Investment Research lowered Martin Marietta Materials from a buy rating to a hold rating in a report on Friday, July 14th. BidaskClub lowered Martin Marietta Materials from a hold rating to a sell rating in a report on Saturday, August 5th. Jefferies Group LLC set a $166.00 target price on Martin Marietta Materials and gave the stock a hold rating in a research note on Monday, August 21st. Citigroup Inc. restated a buy rating and issued a $260.00 target price (down previously from $270.00) on shares of Martin Marietta Materials in a research note on Monday, October 9th. Finally, Bank of America Corporation cut their target price on Martin Marietta Materials from $233.00 to $229.00 and set a neutral rating on the stock in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $242.43.
Martin Marietta Materials (NYSE:MLM) opened at $212.47 on Friday. The company has a market capitalization of $13,310.00, a PE ratio of 31.08, a price-to-earnings-growth ratio of 2.22 and a beta of 1.14. Martin Marietta Materials has a twelve month low of $191.09 and a twelve month high of $244.32. The company has a current ratio of 2.73, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38.
Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Thursday, November 2nd. The construction company reported $2.39 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.06). Martin Marietta Materials had a net margin of 11.03% and a return on equity of 10.39%. The firm had revenue of $1.02 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm earned $2.49 earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis. equities analysts anticipate that Martin Marietta Materials will post 6.92 earnings per share for the current fiscal year.
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In other news, Director John J. Koraleski purchased 500 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were purchased at an average price of $198.37 per share, with a total value of $99,185.00. Following the completion of the acquisition, the director now owns 1,439 shares in the company, valued at approximately $285,454.43. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.45% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Sun Life Financial INC increased its holdings in shares of Martin Marietta Materials by 6,442.9% in the second quarter. Sun Life Financial INC now owns 458 shares of the construction company’s stock worth $102,000 after purchasing an additional 451 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Martin Marietta Materials by 130.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock worth $120,000 after purchasing an additional 305 shares during the period. Dupont Capital Management Corp bought a new position in shares of Martin Marietta Materials in the second quarter worth $128,000. Northwest Investment Counselors LLC bought a new position in shares of Martin Marietta Materials in the second quarter worth $134,000. Finally, Massey Quick Simon & CO. LLC bought a new position in Martin Marietta Materials in the third quarter valued at $152,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.
About Martin Marietta Materials
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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