Martin Marietta Materials (NYSE:MLM) Stock Price Target Lowered at UBS Group

Key Points

• UBS lowered its price target on Martin Marietta Materials from $662 to $640 but maintained a Buy rating; the new target implies 22.27% upside from the prior close.
• Analyst sentiment remains moderately positive: 15 analysts rate the stock Buy, seven Hold and two Sell, with an average target price of $634.75.
• Quarterly results were mixed: earnings per share of $5.47 missed the $5.99 consensus, while revenue of $2.37 billion topped estimates and rose 28.3% year over year.

Martin Marietta Materials (NYSE:MLM - Get Free Report) had its price objective dropped by equities researchers at UBS Group from $662.00 to $640.00 in a report issued on Thursday, Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. UBS Group's target price indicates a potential upside of 22.27% from the stock's previous close.

A number of other equities research analysts also recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Martin Marietta Materials from $664.00 to $639.00 and set an "overweight" rating for the company in a research report on Thursday, August 13th. Citigroup upped their price target on Martin Marietta Materials from $610.00 to $641.00 and gave the stock a "buy" rating in a report on Friday, November 6th. Stephens dropped their price objective on Martin Marietta Materials from $680.00 to $600.00 and set an "overweight" rating for the company in a research note on Friday, October 2nd. HSBC reduced their price objective on Martin Marietta Materials from $750.00 to $665.00 and set a "buy" rating for the company in a report on Tuesday, September 8th. Finally, Wells Fargo & Company boosted their target price on Martin Marietta Materials from $579.00 to $589.00 and gave the stock an "overweight" rating in a research report on Thursday, November 5th. Fifteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $634.75.

Martin Marietta Materials Price Performance

MLM stock traded down $0.70 on Thursday, reaching $523.43. 66,038 shares of the company's stock were exchanged, compared to its average volume of 627,850. The stock has a fifty day moving average of $503.56 and a 200-day moving average of $571.62. Martin Marietta Materials has a twelve month low of $464.92 and a twelve month high of $710.97. The firm has a market cap of $37.23 billion, a PE ratio of 13.90, a P/E/G ratio of 2.91 and a beta of 1.02. The company has a quick ratio of 0.91, a current ratio of 1.63 and a debt-to-equity ratio of 0.69.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its earnings results on Wednesday, November 4th. The construction company reported $5.47 EPS for the quarter, missing analysts' consensus estimates of $5.99 by ($0.52). The business 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%. Martin Marietta Materials's revenue was up 28.3% compared to the same quarter last year. During the same period last year, the business posted $6.85 EPS. As a group, equities analysts predict that Martin Marietta Materials will post 15.36 EPS for the current fiscal year.

Institutional Trading of Martin Marietta Materials

Large investors have recently modified their holdings of the business. Clal Insurance Enterprises Holdings Ltd increased its position in Martin Marietta Materials by 380.0% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 144 shares of the construction company's stock worth $69,000 after buying an additional 114 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Martin Marietta Materials by 1.2% in the third quarter. Whittier Trust Co. now owns 22,026 shares of the construction company's stock valued at $10,536,000 after acquiring an additional 255 shares in the last quarter. Patron Partners LLC lifted its position in shares of Martin Marietta Materials by 24.4% in the third quarter. Patron Partners LLC now owns 1,432 shares of the construction company's stock valued at $687,000 after acquiring an additional 281 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Martin Marietta Materials in the third quarter valued at $15,973,000. Finally, Private Wealth Asset Management LLC boosted its stake in shares of Martin Marietta Materials by 151.1% during the third quarter. Private Wealth Asset Management LLC now owns 949 shares of the construction company's stock valued at $492,000 after acquiring an additional 571 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

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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