Martin Marietta Materials (NYSE:MLM) Price Target Increased to $737.00 by Analysts at The Goldman Sachs Group

Martin Marietta Materials (NYSE:MLM) had its price objective lifted by research analysts at The Goldman Sachs Group from $642.00 to $737.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 23.46% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Truist Financial raised their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Citigroup upped their target price on Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a report on Friday, April 5th. Morgan Stanley initiated coverage on Martin Marietta Materials in a research report on Monday, January 8th. They issued an “overweight” rating and a $595.00 price objective on the stock. Stephens increased their target price on Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Finally, Wolfe Research lowered Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $588.69.

Martin Marietta Materials Stock Down 0.4 %

Shares of MLM traded down $2.30 during mid-day trading on Tuesday, hitting $596.94. 28,736 shares of the company traded hands, compared to its average volume of 394,938. Martin Marietta Materials has a 1-year low of $343.79 and a 1-year high of $626.67. The company has a quick ratio of 2.50, a current ratio of 3.35 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $36.90 billion, a PE ratio of 31.62, a price-to-earnings-growth ratio of 2.94 and a beta of 0.96. The business has a 50 day moving average of $580.39 and a 200 day moving average of $505.01.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.67. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the company posted $3.04 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. Equities research analysts anticipate that Martin Marietta Materials will post 21.09 EPS for the current year.

Insider Activity at Martin Marietta Materials

In other news, Director Sue W. Cole sold 1,724 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the transaction, the director now directly owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the transaction, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sue W. Cole sold 1,724 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the sale, the director now owns 19,793 shares in the company, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,724 shares of company stock worth $16,033,760. Insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Martin Marietta Materials

A number of hedge funds have recently modified their holdings of MLM. Ables Iannone Moore & Associates Inc. bought a new stake in Martin Marietta Materials during the fourth quarter worth about $25,000. Pinnacle Bancorp Inc. bought a new position in shares of Martin Marietta Materials in the fourth quarter worth approximately $26,000. Riverview Trust Co bought a new position in shares of Martin Marietta Materials in the first quarter worth approximately $26,000. MV Capital Management Inc. raised its holdings in shares of Martin Marietta Materials by 144.4% during the third quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock valued at $27,000 after purchasing an additional 39 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Martin Marietta Materials during the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors 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.