Martin Marietta Materials (NYSE:MLM) Given New $576.00 Price Target at Morgan Stanley

Martin Marietta Materials (NYSE:MLM - Get Free Report) had its price objective boosted by research analysts at Morgan Stanley from $561.00 to $576.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the construction company's stock. Morgan Stanley's target price indicates a potential upside of 6.93% from the stock's current price.

MLM has been the subject of several other research reports. Truist Financial reduced their target price on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. StockNews.com downgraded Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. Wolfe Research raised Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 price target for the company in a research report on Wednesday, January 8th. Barclays reduced their price objective on Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Finally, Citigroup lowered their target price on Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and a consensus target price of $599.69.

Martin Marietta Materials Stock Down 0.7 %

Shares of MLM stock traded down $3.55 on Tuesday, reaching $538.65. 70,018 shares of the company were exchanged, compared to its average volume of 483,653. 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 company has a 50-day moving average of $486.36 and a 200-day moving average of $529.79. The company has a market cap of $32.47 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 4.45 and a beta of 0.89. Martin Marietta Materials has a one year low of $441.95 and a one year high of $633.23.

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

Insider Buying and Selling at Martin Marietta Materials

In related news, SVP Michael J. Petro acquired 550 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $454.37 per share, with a total value of $249,903.50. Following the acquisition, the senior vice president now owns 8,985 shares of the company's stock, valued at approximately $4,082,514.45. The trade was a 6.52 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the transaction, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Institutional Trading of Martin Marietta Materials

A number of hedge funds have recently bought and sold shares of MLM. Lee Danner & Bass Inc. bought a new position in shares of Martin Marietta Materials during the 4th quarter valued at $28,000. Wayfinding Financial LLC purchased a new position in shares of Martin Marietta Materials in the first quarter worth about $29,000. Whipplewood Advisors LLC bought a new position in Martin Marietta Materials during the 4th quarter worth approximately $32,000. Chilton Capital Management LLC purchased a new position in Martin Marietta Materials in the 1st quarter worth approximately $30,000. Finally, Kestra Investment Management LLC bought a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $35,000. Institutional investors own 95.04% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.