Martin Marietta Materials (NYSE:MLM) Upgraded at DA Davidson

Martin Marietta Materials (NYSE:MLM) was upgraded by analysts at DA Davidson to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also weighed in on MLM. Oppenheimer initiated coverage on Martin Marietta Materials in a research report on Thursday, May 28th. They issued a “market perform” rating on the stock. Wolfe Research set a $648.00 target price on Martin Marietta Materials in a report on Tuesday, August 4th. Weiss Ratings lowered Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Wells Fargo & Company cut their price target on shares of Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating on the stock in a report on Friday, July 31st. Finally, UBS Group cut their price target on shares of Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $665.29.

Martin Marietta Materials Trading Down 0.1%

Shares of MLM opened at $532.58 on Monday. The stock has a market capitalization of $31.99 billion, a P/E ratio of 13.09, a PEG ratio of 2.30 and a beta of 1.11. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $567.14 and a two-hundred day simple moving average of $593.72. Martin Marietta Materials has a twelve month low of $522.19 and a twelve month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.76 by $0.24. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.Martin Marietta Materials’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period last year, the firm earned $5.43 earnings per share. On average, research analysts anticipate that Martin Marietta Materials will post 19.07 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MLM. California State Teachers Retirement System grew its stake in Martin Marietta Materials by 72,704.3% in the second quarter. California State Teachers Retirement System now owns 51,073,705 shares of the construction company’s stock worth $29,454,206,000 after purchasing an additional 51,003,553 shares during the period. BlackRock Inc. purchased a new position in Martin Marietta Materials during the second quarter valued at $2,706,134,000. Victory Capital Management Inc. lifted its position in Martin Marietta Materials by 51.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock valued at $1,524,853,000 after buying an additional 836,120 shares during the period. Bank of America Corp DE bought a new stake in shares of Martin Marietta Materials during the 2nd quarter valued at $1,411,047,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Martin Marietta Materials by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,553,364 shares of the construction company’s stock valued at $963,406,000 after buying an additional 10,743 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.