Martin Marietta Materials (NYSE:MLM) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “Martin Marietta is a leading supplier of construction aggregates used for construction of highways, infrastructure projects and residential, commercial and industrial building development. The company’s string of acquisitions, divestitures and attractive shareholder returns are encouraging. Increased activities in the non-residential and residential markets are expected to boost demand. However, abnormally wet weather conditions in many markets are marring Martin Marietta’s prospects. Also, shares of Martin Marietta underperformed its industry in the past year. Estimates for 2017 and 2018 have also moved down over the past 30 days reflecting analyst’s concern over the stock’s prospects.”

Several other equities research analysts have also recently commented on the stock. Stephens reaffirmed a “hold” rating and issued a $250.00 price objective on shares of Martin Marietta Materials in a research report on Wednesday, January 3rd. Barclays assumed coverage on shares of Martin Marietta Materials in a research report on Tuesday, December 12th. They issued an “equal weight” rating and a $227.00 price objective on the stock. DA Davidson reaffirmed a “hold” rating and issued a $225.00 price objective on shares of Martin Marietta Materials in a research report on Friday, November 3rd. SunTrust Banks reaffirmed a “buy” rating and issued a $228.00 price objective on shares of Martin Marietta Materials in a research report on Friday, October 27th. Finally, Bank of America cut their price objective on shares of Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating on the stock in a research report on Thursday, October 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Martin Marietta Materials has a consensus rating of “Hold” and an average price target of $240.50.

Martin Marietta Materials (NYSE:MLM) opened at $226.98 on Friday. The firm has a market cap of $14,270.00, a price-to-earnings ratio of 33.09, a PEG ratio of 1.89 and a beta of 1.12. Martin Marietta Materials has a 52-week low of $191.09 and a 52-week high of $244.32. The company has a current ratio of 2.73, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $2.39 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.06). The firm had revenue of $1.02 million for the quarter, compared to the consensus estimate of $1.07 billion. Martin Marietta Materials had a return on equity of 10.39% and a net margin of 11.03%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.49 earnings per share. research analysts anticipate that Martin Marietta Materials will post 6.75 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Martin Marietta Materials by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,379,214 shares of the construction company’s stock worth $1,419,885,000 after buying an additional 149,816 shares in the last quarter. Iridian Asset Management LLC CT lifted its position in Martin Marietta Materials by 54.6% during the 3rd quarter. Iridian Asset Management LLC CT now owns 1,785,402 shares of the construction company’s stock worth $368,203,000 after buying an additional 630,357 shares in the last quarter. Principal Financial Group Inc. lifted its position in Martin Marietta Materials by 20.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,660,752 shares of the construction company’s stock worth $342,497,000 after buying an additional 282,189 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Martin Marietta Materials by 22.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,578,296 shares of the construction company’s stock worth $323,552,000 after buying an additional 285,376 shares in the last quarter. Finally, Caledonia Private Investments Pty Ltd lifted its position in Martin Marietta Materials by 5.3% during the 3rd quarter. Caledonia Private Investments Pty Ltd now owns 798,089 shares of the construction company’s stock worth $164,590,000 after buying an additional 39,989 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

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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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