Martin Marietta Materials (MLM) Rating Lowered to Underperform at Bank of America

Martin Marietta Materials (NYSE:MLM) was downgraded by research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a report released on Tuesday, MarketBeat Ratings reports.

Several other research firms have also issued reports on MLM. Zacks Investment Research raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. Stephens set a $205.00 price objective on shares of Martin Marietta Materials and gave the company a “hold” rating in a research note on Wednesday, January 16th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Martin Marietta Materials in a research note on Wednesday, December 19th. Citigroup reduced their price objective on shares of Martin Marietta Materials from $231.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, January 3rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $232.00 price objective on shares of Martin Marietta Materials in a research note on Tuesday, January 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $217.36.

MLM stock opened at $209.61 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.74 and a quick ratio of 0.89. Martin Marietta Materials has a 1 year low of $150.75 and a 1 year high of $232.88. The firm has a market capitalization of $13.22 billion, a P/E ratio of 25.91, a price-to-earnings-growth ratio of 1.84 and a beta of 1.12.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, February 12th. The construction company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.21). Martin Marietta Materials had a net margin of 11.07% and a return on equity of 10.31%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the firm posted $1.88 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts forecast that Martin Marietta Materials will post 8.97 earnings per share for the current year.

In other Martin Marietta Materials news, Director Sue W. Cole sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $195.07, for a total transaction of $292,605.00. Following the completion of the transaction, the director now owns 20,933 shares of the company’s stock, valued at approximately $4,083,400.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Donald A. Mccunniff sold 660 shares of the business’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $190.90, for a total transaction of $125,994.00. Following the transaction, the senior vice president now directly owns 15,349 shares of the company’s stock, valued at approximately $2,930,124.10. The disclosure for this sale can be found here. 0.75% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in MLM. Shine Investment Advisory Services Inc. increased its stake in Martin Marietta Materials by 191.8% in the first quarter. Shine Investment Advisory Services Inc. now owns 143 shares of the construction company’s stock valued at $29,000 after acquiring an additional 94 shares during the period. JOYN Advisors Inc. increased its stake in Martin Marietta Materials by 472.7% in the fourth quarter. JOYN Advisors Inc. now owns 189 shares of the construction company’s stock valued at $32,000 after acquiring an additional 156 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in Martin Marietta Materials by 397.4% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 189 shares of the construction company’s stock valued at $32,000 after acquiring an additional 151 shares during the period. Enlightenment Research LLC bought a new stake in Martin Marietta Materials in the fourth quarter valued at about $34,000. Finally, Bogart Wealth LLC increased its stake in Martin Marietta Materials by 76.9% in the fourth quarter. Bogart Wealth LLC now owns 230 shares of the construction company’s stock valued at $39,000 after acquiring an additional 100 shares during the period.

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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