Bank of America Increases Martin Marietta Materials (NYSE:MLM) Price Target to $643.00

Key Points

• Bank of America has raised its price target for Martin Marietta Materials from $577.00 to $643.00, indicating a potential upside of 6.92% from the stock's previous close, while maintaining a "neutral" rating.
• Multiple analysts have recently modified their ratings for Martin Marietta, with Morgan Stanley raising its target to $605.00 and UBS increasing it to $634.00, signaling strong interest in the construction stock.
• Approximately 95.04% of Martin Marietta's stock is currently held by institutional investors, reflecting significant confidence among large investment firms in the company's future performance.

Martin Marietta Materials (NYSE:MLM - Get Free Report) had its price target lifted by equities researchers at Bank of America from $577.00 to $643.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the construction company's stock. Bank of America's target price indicates a potential upside of 6.92% from the stock's previous close.

MLM has been the subject of several other reports. Morgan Stanley lifted their price target on Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Wall Street Zen lowered Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. Stifel Nicolaus raised their price objective on Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Royal Bank Of Canada assumed coverage on shares of Martin Marietta Materials in a research note on Monday, June 16th. They issued a "sector perform" rating and a $515.00 price objective for the company. Finally, UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their price target for the company from $548.00 to $634.00 in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Martin Marietta Materials has an average rating of "Moderate Buy" and an average target price of $608.40.

Martin Marietta Materials Price Performance

NYSE MLM traded down $0.94 during midday trading on Tuesday, hitting $601.39. The company had a trading volume of 148,642 shares, compared to its average volume of 479,520. The company has a market capitalization of $36.25 billion, a PE ratio of 34.59, a P/E/G ratio of 5.29 and a beta of 0.89. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $556.45 and a 200-day moving average price of $526.29. Martin Marietta Materials has a twelve month low of $441.95 and a twelve month high of $633.23.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MLM. Wayfinding Financial LLC acquired a new position in shares of Martin Marietta Materials in the 1st quarter worth approximately $29,000. Chilton Capital Management LLC acquired a new position in shares of Martin Marietta Materials in the 1st quarter worth approximately $30,000. Zions Bancorporation National Association UT acquired a new position in shares of Martin Marietta Materials in the 1st quarter worth approximately $30,000. IMA Advisory Services Inc. acquired a new position in shares of Martin Marietta Materials in the 1st quarter worth approximately $40,000. Finally, Salomon & Ludwin LLC grew its stake in shares of Martin Marietta Materials by 156.7% in the 2nd quarter. Salomon & Ludwin LLC now owns 77 shares of the construction company's stock worth $43,000 after purchasing an additional 47 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and 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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