Martin Marietta Materials (NYSE:MLM) Rating Lowered to Neutral at JPMorgan Chase & Co.

Martin Marietta Materials (NYSE:MLM) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Wednesday,Finviz reports. They currently have a $560.00 target price on the construction company’s stock, down from their previous target price of $640.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 14.82% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Raymond James dropped their price objective on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective for the company in a research note on Wednesday, December 11th. Stephens dropped their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Finally, Loop Capital dropped their price objective on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average price target of $628.64.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $487.70 on Wednesday. Martin Marietta Materials has a 52 week low of $448.50 and a 52 week high of $633.23. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $513.08 and its 200 day simple moving average is $540.31. The firm has a market capitalization of $29.74 billion, a PE ratio of 15.09, a P/E/G ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. On average, equities research analysts predict that Martin Marietta Materials will post 19.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the sale, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael J. Petro bought 550 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the purchase, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at $4,082,514.45. The trade was a 6.52 % increase in their position. The disclosure for this purchase can be found here. 0.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC increased its holdings in shares of Martin Marietta Materials by 2.5% during the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock valued at $421,000 after purchasing an additional 19 shares during the period. Checchi Capital Advisers LLC increased its holdings in shares of Martin Marietta Materials by 1.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock valued at $690,000 after purchasing an additional 19 shares during the period. OneDigital Investment Advisors LLC increased its holdings in shares of Martin Marietta Materials by 1.9% during the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company’s stock valued at $527,000 after purchasing an additional 19 shares during the period. iA Global Asset Management Inc. increased its holdings in shares of Martin Marietta Materials by 3.6% during the third quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock valued at $307,000 after purchasing an additional 20 shares during the period. Finally, Brooklyn Investment Group increased its holdings in shares of Martin Marietta Materials by 4.7% during the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock valued at $231,000 after purchasing an additional 20 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and 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.