Martin Marietta Materials (NYSE:MLM) was upgraded by analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, April 11th, MarketBeat reports. The brokerage presently has a $232.00 target price on the construction company’s stock, up from their previous target price of $207.00. Goldman Sachs Group’s target price suggests a potential upside of 4.77% from the company’s previous close.
A number of other analysts also recently commented on the company. Berenberg Bank began coverage on Martin Marietta Materials in a research note on Wednesday, April 3rd. They issued a “hold” rating and a $194.00 target price on the stock. Zacks Investment Research upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. JPMorgan Chase & Co. assumed coverage on Martin Marietta Materials in a research report on Thursday, March 21st. They set an “overweight” rating and a $225.00 price target on the stock. Stephens upgraded Martin Marietta Materials from an “equal” rating to an “overweight” rating in a research report on Friday, February 15th. Finally, Deutsche Bank increased their price target on Martin Marietta Materials from $198.00 to $207.00 and gave the stock a “buy” rating in a research report on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Martin Marietta Materials currently has a consensus rating of “Buy” and a consensus price target of $220.50.
Shares of MLM traded down $1.50 during trading hours on Thursday, hitting $221.44. The company had a trading volume of 419,469 shares, compared to its average volume of 692,720. The firm has a market cap of $13.84 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 2.10 and a beta of 1.15. The company has a current ratio of 1.81, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56. Martin Marietta Materials has a one year low of $150.75 and a one year high of $232.88.
In other news, Director Sue W. Cole sold 1,500 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $195.07, for a total transaction of $292,605.00. Following the completion of the transaction, the director now directly owns 20,933 shares in the company, valued at $4,083,400.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Donald A. Mccunniff sold 660 shares of the firm’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $190.90, for a total value of $125,994.00. Following the transaction, the senior vice president now owns 15,349 shares of the company’s stock, valued at $2,930,124.10. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in MLM. Shine Investment Advisory Services Inc. raised its stake in Martin Marietta Materials by 191.8% in the first quarter. Shine Investment Advisory Services Inc. now owns 143 shares of the construction company’s stock valued at $29,000 after buying an additional 94 shares in the last quarter. JOYN Advisors Inc. raised its stake in Martin Marietta Materials by 472.7% in the fourth quarter. JOYN Advisors Inc. now owns 189 shares of the construction company’s stock valued at $32,000 after buying an additional 156 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Martin Marietta Materials by 397.4% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 189 shares of the construction company’s stock valued at $32,000 after buying an additional 151 shares in the last quarter. Enlightenment Research LLC acquired a new stake in Martin Marietta Materials in the fourth quarter valued at $34,000. Finally, Bogart Wealth LLC raised its stake in Martin Marietta Materials by 76.9% in the fourth quarter. Bogart Wealth LLC now owns 230 shares of the construction company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter.
About Martin Marietta Materials
Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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.
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