Martin Marietta Materials, Inc. (NYSE:MLM) had its price objective dropped by equities researchers at Bank of America Corporation from $233.00 to $229.00 in a research report issued to clients and investors on Thursday. The firm presently has a “neutral” rating on the construction company’s stock. Bank of America Corporation’s price target would indicate a potential upside of 5.94% from the company’s current price.

Several other equities research analysts have also weighed in on MLM. Citigroup Inc. reaffirmed a “buy” rating and issued a $260.00 target price (down previously from $270.00) on shares of Martin Marietta Materials in a report on Monday, October 9th. Jefferies Group LLC set a $166.00 target price on shares of Martin Marietta Materials and gave the stock a “hold” rating in a report on Monday, August 21st. BidaskClub lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Zacks Investment Research lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $241.67.

Shares of Martin Marietta Materials (MLM) opened at 216.16 on Thursday. Martin Marietta Materials has a 12 month low of $175.16 and a 12 month high of $244.32. The company has a market capitalization of $13.58 billion, a P/E ratio of 31.11 and a beta of 1.13. The company has a 50-day moving average of $204.74 and a 200 day moving average of $217.51.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, August 1st. The construction company reported $2.25 earnings per share for the quarter, missing the Thomson Reuters’ 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 previous year, the company posted $1.90 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts forecast that Martin Marietta Materials will post $7.14 EPS for the current year.

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In related news, Director John J. Koraleski acquired 500 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were purchased at an average price of $198.37 per share, with a total value of $99,185.00. Following the acquisition, the director now directly owns 1,439 shares in the company, valued at $285,454.43. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 8.45% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Profund Advisors LLC grew its holdings in Martin Marietta Materials by 0.3% during the 2nd quarter. Profund Advisors LLC now owns 1,600 shares of the construction company’s stock worth $356,000 after acquiring an additional 5 shares during the last quarter. First National Bank of Hutchinson grew its holdings in Martin Marietta Materials by 0.3% during the 2nd quarter. First National Bank of Hutchinson now owns 2,214 shares of the construction company’s stock worth $505,000 after acquiring an additional 6 shares during the last quarter. L & S Advisors Inc grew its holdings in Martin Marietta Materials by 0.8% during the 2nd quarter. L & S Advisors Inc now owns 3,091 shares of the construction company’s stock worth $688,000 after acquiring an additional 26 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Martin Marietta Materials by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 9,431 shares of the construction company’s stock worth $2,099,000 after acquiring an additional 27 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. grew its holdings in Martin Marietta Materials by 0.7% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 4,438 shares of the construction company’s stock worth $988,000 after acquiring an additional 30 shares during the last quarter. 95.72% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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