UBS Group Begins Coverage on Martin Marietta Materials (NYSE:MLM)

Equities research analysts at UBS Group initiated coverage on shares of Martin Marietta Materials (NYSE:MLM) in a research note issued to investors on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $730.00 price target on the construction company’s stock. UBS Group’s price objective would suggest a potential upside of 17.83% from the company’s previous close.

Several other research analysts have also weighed in on MLM. Truist Financial cut their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Morgan Stanley increased their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Jefferies Financial Group lowered their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. JPMorgan Chase & Co. cut their target price on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Citigroup dropped their price target on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus price target of $634.85.

Martin Marietta Materials Trading Up 0.4 %

Shares of MLM opened at $619.55 on Thursday. Martin Marietta Materials has a fifty-two week low of $448.73 and a fifty-two week high of $633.23. The company has a market capitalization of $37.87 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 4.12 and a beta of 0.90. The stock has a fifty day moving average of $549.06 and a two-hundred day moving average of $556.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the company posted $6.94 earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, analysts forecast that Martin Marietta Materials will post 17.84 EPS for the current year.

Hedge Funds Weigh In On Martin Marietta Materials

A number of institutional investors have recently added to or reduced their stakes in MLM. Newbridge Financial Services Group Inc. lifted its stake in shares of Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after acquiring an additional 37 shares in the last quarter. Asset Dedication LLC raised its position in shares of Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares in the last quarter. First Personal Financial Services purchased a new position in shares of Martin Marietta Materials during the 3rd quarter valued at approximately $33,000. Fortitude Family Office LLC grew its position in shares of Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after buying an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Martin Marietta Materials in the first quarter worth $41,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

About Martin Marietta Materials

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.