Martin Marietta Materials (NYSE:MLM) Downgraded by Wall Street Zen to Sell

Martin Marietta Materials (NYSE:MLM) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

A number of other brokerages also recently commented on MLM. Barclays reduced their target price on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Oppenheimer began coverage on shares of Martin Marietta Materials in a report on Thursday, May 28th. They issued a “market perform” rating on the stock. B. Riley Financial raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective on the stock in a research report on Thursday, April 2nd. Zacks Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Citigroup increased their target price on shares of Martin Marietta Materials from $731.00 to $737.00 and gave the company a “buy” rating in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $682.41.

Martin Marietta Materials Trading Up 1.1%

MLM traded up $6.10 on Friday, reaching $578.00. 450,995 shares of the company traded hands, compared to its average volume of 628,951. The company has a market cap of $34.71 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. Martin Marietta Materials has a one year low of $525.38 and a one year high of $710.97. The firm has a fifty day simple moving average of $581.94 and a two-hundred day simple moving average of $615.35.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the business earned $1.90 EPS. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, equities research analysts expect that Martin Marietta Materials will post 19.38 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Optima Capital LLC purchased a new stake in Martin Marietta Materials during the 4th quarter valued at about $25,000. KERR FINANCIAL PLANNING Corp purchased a new position in Martin Marietta Materials in the 3rd quarter worth approximately $27,000. CoreCap Advisors LLC lifted its stake in Martin Marietta Materials by 370.0% in the 2nd quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock worth $27,000 after purchasing an additional 37 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Martin Marietta Materials by 67.9% during the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after purchasing an additional 19 shares during the last quarter. Finally, Garton & Associates Financial Advisors LLC purchased a new stake in shares of Martin Marietta Materials in the fourth quarter valued at approximately $31,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.