JPMorgan Chase & Co. Raises Martin Marietta Materials (NYSE:MLM) Price Target to $700.00

Martin Marietta Materials (NYSE:MLM) had its price target lifted by JPMorgan Chase & Co. from $670.00 to $700.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 12.57% from the stock’s current price.

MLM has been the topic of a number of other research reports. Raymond James Financial upped their target price on Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Barclays boosted their target price on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. DA Davidson set a $690.00 price target on shares of Martin Marietta Materials in a research note on Thursday. Wells Fargo & Company decreased their price objective on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Thursday, November 6th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $525.00 price objective (up from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $644.38.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock traded up $5.08 on Tuesday, hitting $621.85. The company’s stock had a trading volume of 28,554 shares, compared to its average volume of 448,841. The company has a market capitalization of $37.50 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 5.57 and a beta of 1.06. Martin Marietta Materials has a 52-week low of $441.95 and a 52-week high of $665.18. The firm has a fifty day moving average price of $621.69 and a 200-day moving average price of $584.93. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Martin Marietta Materials

Several institutional investors and hedge funds have recently bought and sold shares of the business. Atika Capital Management LLC raised its position in Martin Marietta Materials by 18.1% in the first quarter. Atika Capital Management LLC now owns 55,633 shares of the construction company’s stock worth $26,600,000 after acquiring an additional 8,533 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Martin Marietta Materials by 0.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 9,576 shares of the construction company’s stock valued at $5,257,000 after purchasing an additional 33 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of Martin Marietta Materials in the 2nd quarter worth approximately $497,000. Fenimore Asset Management Inc raised its holdings in shares of Martin Marietta Materials by 6.0% in the 2nd quarter. Fenimore Asset Management Inc now owns 88,850 shares of the construction company’s stock worth $48,775,000 after purchasing an additional 5,010 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Martin Marietta Materials by 16.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 493 shares of the construction company’s stock worth $270,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Company Profile

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.