Martin Marietta Materials (NYSE:MLM) Stock Rating Upgraded by Bank of America

Martin Marietta Materials (NYSE:MLM) was upgraded by research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a report issued on Tuesday, October 15th, MarketBeat.com reports.

A number of other brokerages have also issued reports on MLM. BNP Paribas initiated coverage on shares of Martin Marietta Materials in a research note on Wednesday, October 9th. They issued an “underperform” rating on the stock. JPMorgan Chase & Co. upped their target price on shares of Martin Marietta Materials from $265.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. ValuEngine lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Longbow Research set a $265.00 target price on shares of Martin Marietta Materials and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Jefferies Financial Group boosted their price objective on shares of Martin Marietta Materials from $265.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. Martin Marietta Materials currently has an average rating of “Hold” and an average price target of $259.38.

MLM stock traded down $0.65 during trading on Tuesday, reaching $256.90. The stock had a trading volume of 604,322 shares, compared to its average volume of 622,069. The company has a market capitalization of $15.83 billion, a P/E ratio of 31.76, a PEG ratio of 2.35 and a beta of 1.13. The firm has a fifty day moving average price of $265.67 and a 200 day moving average price of $240.73. The company has a current ratio of 2.29, a quick ratio of 1.35 and a debt-to-equity ratio of 0.60. Martin Marietta Materials has a 1-year low of $160.60 and a 1-year high of $275.99.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, October 29th. The construction company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.46. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.33 billion. Martin Marietta Materials had a net margin of 12.35% and a return on equity of 11.52%. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.85 EPS. Sell-side analysts predict that Martin Marietta Materials will post 9.65 EPS for the current year.

In other news, CEO C Howard Nye sold 7,440 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $253.52, for a total value of $1,886,188.80. Following the completion of the sale, the chief executive officer now directly owns 154,544 shares of the company’s stock, valued at approximately $39,179,994.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Several large investors have recently modified their holdings of the company. Cetera Advisor Networks LLC acquired a new stake in shares of Martin Marietta Materials in the 3rd quarter worth approximately $210,000. Great Lakes Advisors LLC lifted its stake in shares of Martin Marietta Materials by 30.5% in the 3rd quarter. Great Lakes Advisors LLC now owns 16,459 shares of the construction company’s stock worth $4,512,000 after acquiring an additional 3,848 shares during the period. BBVA USA Bancshares Inc. acquired a new stake in shares of Martin Marietta Materials in the 3rd quarter worth approximately $237,000. Prime Capital Investment Advisors LLC acquired a new stake in Martin Marietta Materials during the third quarter valued at approximately $27,000. Finally, Gilbert & Cook Inc. lifted its stake in Martin Marietta Materials by 6.9% during the third quarter. Gilbert & Cook Inc. now owns 994 shares of the construction company’s stock valued at $272,000 after purchasing an additional 64 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.

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Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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