Stifel Nicolaus Boosts Martin Marietta Materials (NYSE:MLM) Price Target to $637.00

Key Points

• Martin Marietta Materials' price target has been raised from $609.00 to $637.00 by Stifel Nicolaus, indicating a potential upside of 6.07% from the current price.
• Several other brokerage firms have also increased their target prices for the company, with DA Davidson setting it at $700.00 and Raymond James Financial at $645.00.
• Despite a slight decline of 1.7% in stock price recently, the company reported a quarterly revenue of $1.81 billion, which is a 2.7% increase year-over-year.

Martin Marietta Materials (NYSE:MLM - Get Free Report) had its price target increased by equities researchers at Stifel Nicolaus from $609.00 to $637.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Stifel Nicolaus' target price indicates a potential upside of 3.88% from the stock's previous close.

A number of other equities research analysts also recently commented on the company. DA Davidson lifted their target price on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a report on Monday. Raymond James Financial lifted their target price on Martin Marietta Materials from $600.00 to $645.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $525.00 price target (up from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Bank of America lifted their price target on Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Finally, Stephens reiterated an "overweight" rating and set a $700.00 price target on shares of Martin Marietta Materials in a research report on Monday, August 4th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $622.63.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock traded down $6.90 on Tuesday, reaching $613.18. 365,019 shares of the stock were exchanged, compared to its average volume of 428,141. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. Martin Marietta Materials has a twelve month low of $441.95 and a twelve month high of $633.23. The firm has a market capitalization of $36.98 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 5.66 and a beta of 0.89. The business has a 50 day moving average price of $566.66 and a two-hundred day moving average price of $530.35.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its earnings results on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the firm earned $4.76 EPS. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts anticipate that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Insider Activity at Martin Marietta Materials

In related news, Director Laree E. Perez sold 1,038 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $613.32, for a total transaction of $636,626.16. Following the completion of the sale, the director directly owned 15,417 shares in the company, valued at approximately $9,455,554.44. The trade was a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.69% of the company's stock.

Institutional Trading of Martin Marietta Materials

Several large investors have recently made changes to their positions in MLM. Wellington Management Group LLP increased its position in shares of Martin Marietta Materials by 5.4% during the fourth quarter. Wellington Management Group LLP now owns 448 shares of the construction company's stock worth $231,000 after purchasing an additional 23 shares in the last quarter. Advisory Services Network LLC increased its position in shares of Martin Marietta Materials by 6.6% during the fourth quarter. Advisory Services Network LLC now owns 1,496 shares of the construction company's stock worth $773,000 after purchasing an additional 92 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Martin Marietta Materials by 54.5% during the fourth quarter. Sterling Capital Management LLC now owns 3,505 shares of the construction company's stock worth $1,810,000 after purchasing an additional 1,236 shares in the last quarter. Townsquare Capital LLC increased its position in shares of Martin Marietta Materials by 3.4% during the fourth quarter. Townsquare Capital LLC now owns 3,773 shares of the construction company's stock worth $1,949,000 after purchasing an additional 123 shares in the last quarter. Finally, Sagespring Wealth Partners LLC purchased a new stake in shares of Martin Marietta Materials during the fourth quarter worth approximately $315,000. 95.04% of the stock is currently owned by hedge funds and other 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.