Martin Marietta Materials, Inc. (MLM) Stock Rating Reaffirmed by Citigroup Inc.

Martin Marietta Materials, Inc. (NYSE:MLM)‘s stock had its “buy” rating reiterated by equities researchers at Citigroup Inc. in a research report issued on Monday. They presently have a $260.00 price objective on the construction company’s stock, down from their prior price objective of $270.00. Citigroup Inc.’s price objective would indicate a potential upside of 26.74% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, July 14th. BidaskClub upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Finally, Jefferies Group LLC set a $166.00 target price on Martin Marietta Materials and gave the company a “hold” rating in a report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $224.83.

Martin Marietta Materials (NYSE MLM) opened at 205.14 on Monday. The company’s 50-day moving average price is $204.07 and its 200-day moving average price is $217.93. Martin Marietta Materials has a 12 month low of $167.06 and a 12 month high of $244.32. The stock has a market cap of $12.89 billion, a P/E ratio of 29.52 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.38 by ($0.13). The company had revenue of $996.30 million for the quarter, compared to analyst estimates of $1.01 billion. Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. Martin Marietta Materials’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.90 EPS. Equities analysts forecast that Martin Marietta Materials will post $7.14 earnings per share for the current year.

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In other Martin Marietta Materials news, Director John J. Koraleski acquired 500 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were acquired at an average price of $198.37 per share, for a total transaction of $99,185.00. Following the completion of the acquisition, the director now directly owns 1,439 shares of the company’s stock, valued at $285,454.43. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.45% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Profund Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 0.3% during the second quarter. Profund Advisors LLC now owns 1,600 shares of the construction company’s stock worth $356,000 after purchasing an additional 5 shares during the last quarter. First National Bank of Hutchinson boosted its holdings in shares of Martin Marietta Materials by 0.3% during the second quarter. First National Bank of Hutchinson now owns 2,214 shares of the construction company’s stock worth $505,000 after purchasing an additional 6 shares during the last quarter. L & S Advisors Inc boosted its holdings in shares of Martin Marietta Materials by 0.8% during the second quarter. L & S Advisors Inc now owns 3,091 shares of the construction company’s stock worth $688,000 after purchasing an additional 26 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Martin Marietta Materials by 0.3% during the second quarter. CIBC Asset Management Inc now owns 9,431 shares of the construction company’s stock worth $2,099,000 after purchasing an additional 27 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its holdings in shares of Martin Marietta Materials by 0.7% during the second quarter. Candriam Luxembourg S.C.A. now owns 4,438 shares of the construction company’s stock worth $988,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

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.

Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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