Martin Marietta Materials (NYSE:MLM) Rating Lowered to "Strong Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Martin Marietta Materials from “sell” to “strong sell.” Despite mixed analyst views, MarketBeat’s consensus remains “Moderate Buy,” with a $642.60 average price target.
• The company reported quarterly EPS of $5.47, below the $5.99 consensus, while revenue of $2.37 billion exceeded estimates and rose 28.3% year over year.
• Shares opened at $517.36, well below their 52-week high of $710.97; the stock has a market capitalization of about $31.08 billion.

Martin Marietta Materials (NYSE:MLM - Get Free Report) was downgraded by Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other analysts have also issued research reports about the stock. Citigroup lifted their target price on shares of Martin Marietta Materials from $610.00 to $641.00 and gave the company a "buy" rating in a research report on Friday. Sanford C. Bernstein lowered Martin Marietta Materials to an "underweight" rating in a research report on Wednesday, September 2nd. Jefferies Financial Group reduced their price target on Martin Marietta Materials from $720.00 to $670.00 and set a "buy" rating for the company in a research report on Wednesday, September 23rd. Raymond James Financial reiterated an "outperform" rating and issued a $620.00 target price on shares of Martin Marietta Materials in a research report on Friday. Finally, Weiss Ratings cut shares of Martin Marietta Materials from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, September 3rd. Fifteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $642.60.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $517.36 on Friday. Martin Marietta Materials has a 52 week low of $464.92 and a 52 week high of $710.97. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The company has a market cap of $31.08 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 2.86 and a beta of 1.02. The firm has a 50 day moving average of $503.01 and a 200-day moving average of $573.42.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its earnings results 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). Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the company posted $6.85 EPS. The business's revenue was up 28.3% on a year-over-year basis. On average, equities analysts forecast that Martin Marietta Materials will post 16.30 earnings per share for the current year.

Institutional Investors Weigh In On Martin Marietta Materials

Several hedge funds have recently made changes to their positions in the company. Aberdeen Group plc boosted its stake in Martin Marietta Materials by 1,735.1% during the third quarter. Aberdeen Group plc now owns 448,545 shares of the construction company's stock valued at $215,216,000 after buying an additional 424,103 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in Martin Marietta Materials by 11.4% in the 3rd quarter. Moors & Cabot Inc. now owns 1,009 shares of the construction company's stock worth $484,000 after purchasing an additional 103 shares during the last quarter. Allworth Financial LP lifted its position in shares of Martin Marietta Materials by 29.4% during the 3rd quarter. Allworth Financial LP now owns 1,852 shares of the construction company's stock worth $889,000 after purchasing an additional 421 shares during the last quarter. Magnolia Group LLC bought a new stake in Martin Marietta Materials in the 3rd quarter valued at $4,414,000. Finally, Maryland State Retirement & Pension System grew its holdings in shares of Martin Marietta Materials by 12.4% during the 3rd quarter. Maryland State Retirement & Pension System now owns 3,670 shares of the construction company's stock worth $1,761,000 after purchasing an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Company Profile

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.

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