UBS Group Has Lowered Expectations for Martin Marietta Materials (NYSE:MLM) Stock Price

Martin Marietta Materials (NYSE:MLM) had its price objective reduced by equities research analysts at UBS Group from $662.00 to $640.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. UBS Group‘s target price would indicate a potential upside of 22.27% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. HSBC lowered their target price on shares of Martin Marietta Materials from $750.00 to $665.00 and set a “buy” rating for the company in a research note on Tuesday, September 8th. Wolfe Research set a $648.00 price target on Martin Marietta Materials in a research note on Tuesday, August 4th. Stephens reduced their price target on Martin Marietta Materials from $680.00 to $600.00 and set an “overweight” rating on the stock in a research note on Friday, October 2nd. Citigroup raised their price objective on Martin Marietta Materials from $610.00 to $641.00 and gave the stock a “buy” rating in a report on Friday, November 6th. Finally, Weiss Ratings downgraded Martin Marietta Materials from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 3rd. Fifteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average price target of $634.75.

Martin Marietta Materials Trading Down 0.1%

Shares of NYSE MLM traded down $0.70 during midday trading on Thursday, reaching $523.43. 66,038 shares of the stock were exchanged, compared to its average volume of 627,850. The company has a market capitalization of $37.23 billion, a P/E ratio of 13.90, a P/E/G ratio of 2.91 and a beta of 1.02. Martin Marietta Materials has a 52-week low of $464.92 and a 52-week high of $710.97. The company has a current ratio of 1.63, a quick ratio of 0.91 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average price of $503.56 and a 200-day moving average price of $571.62.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, November 4th. The construction company reported $5.47 earnings per share for the quarter, missing analysts’ consensus estimates of $5.99 by ($0.52). The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.24 billion. Martin Marietta Materials had a net margin of 31.88% and a return on equity of 7.96%. The business’s quarterly revenue was up 28.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.85 EPS. Equities research analysts expect that Martin Marietta Materials will post 15.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Bank of Nova Scotia acquired a new stake in shares of Martin Marietta Materials during the 2nd quarter worth $3,650,000. Hsbc Holdings PLC raised its position in shares of Martin Marietta Materials by 6.6% in the 2nd quarter. Hsbc Holdings PLC now owns 118,981 shares of the construction company’s stock worth $68,541,000 after buying an additional 7,361 shares during the period. Montanova Capital LLC purchased a new position in shares of Martin Marietta Materials in the 2nd quarter worth $14,994,000. National Pension Service raised its position in shares of Martin Marietta Materials by 6.4% in the 2nd quarter. National Pension Service now owns 95,221 shares of the construction company’s stock worth $54,914,000 after buying an additional 5,739 shares during the period. Finally, Bank of America Corp DE acquired a new position in Martin Marietta Materials in the second quarter valued at $1,411,047,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

About Martin Marietta Materials

Martin Marietta Materials, Inc. is a U.S.-based supplier of building materials used in construction and infrastructure projects. Its products include crushed stone, sand and gravel, cement, ready-mixed concrete and asphalt. The company also produces specialty products through its magnesia-based business, including lime, chemicals and products used in industrial and environmental applications. Its construction materials operations serve markets across the United States. Martin Marietta traces its roots to 1939 and has grown through acquisitions and expansion of its materials operations.