Martin Marietta Materials, Inc. (NYSE:MLM) Given Consensus Recommendation of “Buy” by Brokerages

Martin Marietta Materials, Inc. (NYSE:MLM) has been given a consensus rating of “Buy” by the sixteen research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $232.10.

MLM has been the topic of several research reports. DA Davidson raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $227.22 price target on the stock in a research note on Thursday, June 6th. Goldman Sachs Group raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and raised their price target for the stock from $207.00 to $232.00 in a research note on Thursday, April 11th. Zacks Investment Research raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a research note on Monday, May 6th. ValuEngine raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, Longbow Research raised their price target on shares of Martin Marietta Materials from $260.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st.

MLM traded down $4.08 during midday trading on Wednesday, hitting $243.09. 223,692 shares of the company traded hands, compared to its average volume of 673,124. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.86 and a quick ratio of 1.08. The stock has a market cap of $15.31 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 2.31 and a beta of 1.13. Martin Marietta Materials has a 52-week low of $150.75 and a 52-week high of $252.08. The stock’s 50 day moving average price is $229.44.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $3.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.08 by ($0.07). The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Martin Marietta Materials had a net margin of 11.37% and a return on equity of 10.35%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.25 earnings per share. Equities analysts expect that Martin Marietta Materials will post 9.31 EPS for the current year.

In other news, EVP Roselyn R. Bar sold 2,821 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $246.93, for a total value of $696,589.53. Following the completion of the transaction, the executive vice president now owns 57,149 shares of the company’s stock, valued at $14,111,802.57. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Laree E. Perez sold 824 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $231.80, for a total transaction of $191,003.20. Following the completion of the transaction, the director now directly owns 14,136 shares of the company’s stock, valued at approximately $3,276,724.80. The disclosure for this sale can be found here. In the last three months, insiders sold 14,869 shares of company stock valued at $3,622,433. Insiders own 0.73% of the company’s stock.

A number of institutional investors have recently modified their holdings of MLM. Destination Wealth Management lifted its position in shares of Martin Marietta Materials by 825.0% during the 2nd quarter. Destination Wealth Management now owns 111 shares of the construction company’s stock worth $26,000 after buying an additional 99 shares during the last quarter. Shine Investment Advisory Services Inc. lifted its position in shares of Martin Marietta Materials by 191.8% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 143 shares of the construction company’s stock worth $29,000 after buying an additional 94 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Martin Marietta Materials during the 2nd quarter worth approximately $31,000. Global Retirement Partners LLC lifted its position in shares of Martin Marietta Materials by 82.9% during the 1st quarter. Global Retirement Partners LLC now owns 192 shares of the construction company’s stock worth $39,000 after buying an additional 87 shares during the last quarter. Finally, Avestar Capital LLC lifted its position in shares of Martin Marietta Materials by 3,800.0% during the 1st quarter. Avestar Capital LLC now owns 234 shares of the construction company’s stock worth $46,000 after buying an additional 228 shares during the last quarter.

Martin Marietta Materials Company Profile

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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Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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