Martin Marietta Materials' (MLM) Buy (B-) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "buy (B-)" rating for Martin Marietta Materials (MLM), indicating continued confidence in the stock's performance.
• Various analysts have upgraded their ratings for MLM, including a target price increase from Stifel Nicolaus from $609.00 to $637.00 and from Bank of America from $577.00 to $643.00.
• Martin Marietta Materials reported a quarterly EPS of $5.43, slightly below the consensus estimate of $5.44, with revenues of $1.81 billion, reflecting a 2.7% increase year-over-year.

Martin Marietta Materials (NYSE:MLM - Get Free Report)'s stock had its "buy (b-)" rating reissued by investment analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

MLM has been the subject of several other reports. Wall Street Zen raised shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Stifel Nicolaus upped their target price on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Morgan Stanley increased their price objective on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Bank of America raised their target price on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Finally, Wells Fargo & Company began coverage on shares of Martin Marietta Materials in a research report on Tuesday. They set an "equal weight" rating and a $620.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Martin Marietta Materials currently has an average rating of "Moderate Buy" and an average price target of $621.69.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $636.08 on Wednesday. The business has a fifty day simple moving average of $613.59 and a two-hundred day simple moving average of $560.80. The firm has a market capitalization of $38.36 billion, a P/E ratio of 35.28, a P/E/G ratio of 5.71 and a beta of 1.01. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. Martin Marietta Materials has a 12 month low of $441.95 and a 12 month high of $640.00.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.44 by ($0.01). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm earned $4.76 EPS. The company's revenue was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $613.32, for a total value of $636,626.16. Following the completion of the sale, the director owned 15,417 shares of the company's stock, valued at approximately $9,455,554.44. This represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.69% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC acquired a new position in Martin Marietta Materials during the 2nd quarter valued at approximately $28,000. Wayfinding Financial LLC acquired a new position in Martin Marietta Materials during the 1st quarter valued at approximately $29,000. Chilton Capital Management LLC acquired a new position in Martin Marietta Materials during the 1st quarter valued at approximately $30,000. Zions Bancorporation National Association UT acquired a new position in Martin Marietta Materials during the 1st quarter valued at approximately $30,000. Finally, NewSquare Capital LLC increased its stake in Martin Marietta Materials by 62.2% during the 2nd quarter. NewSquare Capital LLC now owns 60 shares of the construction company's stock valued at $33,000 after purchasing an additional 23 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

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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