Martin Marietta Materials (NYSE:MLM) Lifted to “Buy” at Goldman Sachs Group

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.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, April 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.39. The company had revenue of $938.96 million for the quarter, compared to analyst estimates of $881.82 million. Martin Marietta Materials had a return on equity of 10.82% and a net margin of 11.48%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.16 EPS. On average, equities research analysts forecast that Martin Marietta Materials will post 8.94 EPS for the current year.

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.

Featured Article: Stop Order

Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

Receive News & Ratings for Martin Marietta Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials and related companies with MarketBeat.com's FREE daily email newsletter.