Martin Marietta Materials, Inc. (MLM) Downgraded by BidaskClub to Sell
BidaskClub cut shares of Martin Marietta Materials, Inc. (NYSE:MLM) from a hold rating to a sell rating in a research note published on Saturday morning.
MLM has been the subject of a number of other research reports. Zacks Investment Research raised Martin Marietta Materials from a sell rating to a hold rating in a research report on Monday, May 1st. Stephens raised their price objective on Martin Marietta Materials from $246.00 to $250.00 and gave the company an equal weight rating in a research report on Thursday, May 4th. Finally, Stifel Nicolaus raised their price objective on Martin Marietta Materials from $258.00 to $265.00 and gave the company a buy rating in a research report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $229.67.
Shares of Martin Marietta Materials (NYSE:MLM) traded up 1.70% on Friday, hitting $214.42. The company had a trading volume of 591,524 shares. The stock has a market capitalization of $13.47 billion, a PE ratio of 30.86 and a beta of 1.14. The firm’s 50 day moving average price is $226.03 and its 200-day moving average price is $223.69. Martin Marietta Materials has a 52 week low of $167.06 and a 52 week high of $244.32.
Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, August 1st. The construction company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.38 by $0.13. Martin Marietta Materials had a return on equity of 10.69% and a net margin of 11.19%. The firm had revenue of $996.30 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company posted $1.90 EPS. The firm’s revenue was up 8.8% on a year-over-year basis. Analysts forecast that Martin Marietta Materials will post $7.14 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Boys Arnold & Co. Inc. raised its position in Martin Marietta Materials by 18.5% in the first quarter. Boys Arnold & Co. Inc. now owns 3,260 shares of the construction company’s stock worth $711,000 after buying an additional 510 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Martin Marietta Materials by 28.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,678 shares of the construction company’s stock valued at $1,021,000 after buying an additional 1,040 shares in the last quarter. Reliance Trust Co. of Delaware increased its stake in shares of Martin Marietta Materials by 19.5% in the first quarter. Reliance Trust Co. of Delaware now owns 3,475 shares of the construction company’s stock valued at $759,000 after buying an additional 568 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Martin Marietta Materials during the first quarter valued at approximately $2,117,000. Finally, Heritage Investors Management Corp increased its stake in shares of Martin Marietta Materials by 3.9% in the first quarter. Heritage Investors Management Corp now owns 80,577 shares of the construction company’s stock valued at $17,586,000 after buying an additional 3,016 shares in the last quarter. 96.66% of the stock is owned by institutional investors.
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.
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