Martin Marietta Materials (NYSE:MLM) Coverage Initiated by Analysts at Royal Bank of Canada

Analysts at Royal Bank of Canada initiated coverage on shares of Martin Marietta Materials (NYSE:MLM - Get Free Report) in a report issued on Monday,Briefing.com Automated Import reports. The brokerage set a "sector perform" rating and a $515.00 price target on the construction company's stock. Royal Bank of Canada's price objective would indicate a potential downside of 4.96% from the company's previous close.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $640.00 to $560.00 in a report on Wednesday, March 19th. Seaport Res Ptn raised shares of Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. Morgan Stanley boosted their price target on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Raymond James lowered their price objective on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Finally, Stifel Nicolaus upped their target price on Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials has an average rating of "Moderate Buy" and a consensus target price of $603.86.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $541.87 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The firm has a market capitalization of $32.67 billion, a PE ratio of 16.76, a P/E/G ratio of 4.45 and a beta of 0.89. Martin Marietta Materials has a 1-year low of $441.95 and a 1-year high of $633.23. The business's fifty day moving average price is $529.68 and its two-hundred day moving average price is $521.85.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.02. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the firm posted $1.93 EPS. Martin Marietta Materials's quarterly revenue was up 8.2% compared to the same quarter last year. On average, research analysts expect that Martin Marietta Materials will post 19.53 EPS for the current year.

Institutional Trading of Martin Marietta Materials

Large investors have recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC grew its holdings in shares of Martin Marietta Materials by 1.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock valued at $690,000 after buying an additional 19 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Martin Marietta Materials by 1.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock worth $527,000 after purchasing an additional 19 shares in the last quarter. Signaturefd LLC grew its position in Martin Marietta Materials by 2.6% during the fourth quarter. Signaturefd LLC now owns 835 shares of the construction company's stock valued at $431,000 after purchasing an additional 21 shares in the last quarter. Net Worth Advisory Group increased its stake in Martin Marietta Materials by 2.2% in the 1st quarter. Net Worth Advisory Group now owns 993 shares of the construction company's stock valued at $475,000 after buying an additional 21 shares during the period. Finally, PDS Planning Inc lifted its position in Martin Marietta Materials by 4.9% in the 1st quarter. PDS Planning Inc now owns 452 shares of the construction company's stock worth $216,000 after buying an additional 21 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

About Martin Marietta Materials

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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