Martin Marietta Materials (NYSE:MLM) Lifted to “Buy” at DA Davidson

Martin Marietta Materials (NYSE:MLM) was upgraded by research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a report released on Thursday, June 6th, MarketBeat.com reports. The brokerage presently has a $227.22 price objective on the construction company’s stock. DA Davidson’s target price indicates a potential downside of 0.38% from the company’s previous close.

Other analysts also recently issued research reports about the company. Zacks Investment Research raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. Citigroup lifted their target price on Martin Marietta Materials from $239.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Berenberg Bank began coverage on Martin Marietta Materials in a research report on Wednesday, April 3rd. They issued a “hold” rating and a $194.00 target price for the company. JPMorgan Chase & Co. initiated coverage on Martin Marietta Materials in a research report on Thursday, March 21st. They set an “overweight” rating and a $225.00 price objective for the company. Finally, Deutsche Bank boosted their price target on Martin Marietta Materials from $198.00 to $207.00 and gave the stock a “buy” rating in a research report on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. Martin Marietta Materials presently has an average rating of “Buy” and a consensus target price of $221.87.

Shares of NYSE:MLM traded down $2.02 on Thursday, hitting $228.09. The company had a trading volume of 504,600 shares, compared to its average volume of 648,584. Martin Marietta Materials has a 52-week low of $150.75 and a 52-week high of $232.81. The business has a 50 day moving average of $219.64. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 1.81. The firm has a market capitalization of $14.40 billion, a P/E ratio of 28.19, a PEG ratio of 2.25 and a beta of 1.14.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, April 30th. The construction company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.39. Martin Marietta Materials had a return on equity of 10.82% and a net margin of 11.48%. The firm had revenue of $938.96 million during the quarter, compared to analyst estimates of $881.82 million. During the same quarter last year, the firm earned $0.16 EPS. Martin Marietta Materials’s quarterly revenue was up 17.1% on a year-over-year basis. On average, research analysts predict that Martin Marietta Materials will post 9.27 EPS for the current fiscal year.

In other news, Chairman C Howard Nye sold 14,668 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $220.48, for a total value of $3,234,000.64. Following the completion of the sale, the chairman now directly owns 167,019 shares of the company’s stock, valued at approximately $36,824,349.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Laree E. Perez sold 824 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $231.80, for a total transaction of $191,003.20. Following the completion of the sale, the director now directly owns 14,136 shares of the company’s stock, valued at $3,276,724.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,675 shares of company stock valued at $4,125,869. Insiders own 0.73% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc increased its stake in Martin Marietta Materials by 0.4% during the third quarter. Vanguard Group Inc now owns 6,653,036 shares of the construction company’s stock worth $1,210,520,000 after acquiring an additional 28,832 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Martin Marietta Materials by 42.6% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 14,068 shares of the construction company’s stock valued at $2,418,000 after buying an additional 4,200 shares in the last quarter. KBC Group NV grew its stake in shares of Martin Marietta Materials by 24.1% in the fourth quarter. KBC Group NV now owns 9,049 shares of the construction company’s stock valued at $1,555,000 after buying an additional 1,755 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of Martin Marietta Materials by 13.4% in the fourth quarter. Xact Kapitalforvaltning AB now owns 11,007 shares of the construction company’s stock valued at $1,892,000 after buying an additional 1,300 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Martin Marietta Materials by 27.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,088 shares of the construction company’s stock valued at $531,000 after buying an additional 667 shares in 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.

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