Martin Marietta Materials (NYSE:MLM) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Martin Marietta Materials to “Sell” from “Hold,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $681.53.
• MLM shares opened at $573.11 and were trading up 2.4%; the stock remains below its 200-day moving average of $609.45 and has ranged from $525.38 to $710.97 over the past year.
• The company exceeded quarterly expectations, reporting $1.93 in EPS versus $1.78 expected and $1.36 billion in revenue, up 17.2% year over year. Institutional investors and hedge funds own approximately 95.04% of the outstanding shares.

Martin Marietta Materials (NYSE:MLM - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Tuesday.

A number of other equities research analysts have also issued reports on MLM. Raymond James Financial dropped their price objective on shares of Martin Marietta Materials from $690.00 to $675.00 and set an "outperform" rating for the company in a report on Wednesday, July 15th. Berenberg Bank set a $556.00 target price on Martin Marietta Materials and gave the stock a "hold" rating in a research note on Tuesday, June 2nd. Royal Bank Of Canada reduced their target price on Martin Marietta Materials from $630.00 to $615.00 and set a "sector perform" rating on the stock in a research report on Monday, May 4th. Oppenheimer started coverage on Martin Marietta Materials in a report on Thursday, May 28th. They set a "market perform" rating for the company. Finally, UBS Group set a $739.00 price objective on shares of Martin Marietta Materials in a report on Sunday, May 10th. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and an average target price of $681.53.

Martin Marietta Materials Trading Up 2.4%

MLM opened at $573.11 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. The company's 50 day simple moving average is $576.33 and its two-hundred day simple moving average is $609.45. The firm has a market capitalization of $34.42 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. Martin Marietta Materials has a 1-year low of $525.38 and a 1-year high of $710.97.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.15. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The firm's revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 earnings per share. Analysts expect that Martin Marietta Materials will post 19.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Martin Marietta Materials

Several institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Martin Marietta Materials by 14,332.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company's stock worth $48,438,000 after purchasing an additional 77,253 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Martin Marietta Materials by 66.7% during the fourth quarter. SG Americas Securities LLC now owns 9,316 shares of the construction company's stock worth $5,801,000 after buying an additional 3,728 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Martin Marietta Materials by 17.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,753 shares of the construction company's stock valued at $7,318,000 after buying an additional 1,778 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Martin Marietta Materials in the fourth quarter valued at approximately $18,636,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Martin Marietta Materials by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 126,524 shares of the construction company's stock valued at $80,272,000 after buying an additional 5,227 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc NYSE: MLM is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.

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