Morgan Stanley Lowers Martin Marietta Materials (NYSE:MLM) Price Target to $664.00

Key Points

• Morgan Stanley cut its price target on Martin Marietta to $664 from $702 but kept an "overweight" rating, implying about an 11.6% upside from the previous close.
• Analyst views are mixed—nine Buys, seven Holds and one Sell—giving an overall average rating of "Hold" and an average target price of $692.31.
• Martin Marietta recently missed estimates with Q4 EPS of $4.62 (vs. $4.81 expected) and revenue of $1.53B (vs. $1.66B), and its shares traded around $595.23 (market cap ≈ $35.9B, PE ≈ 31.7).

Martin Marietta Materials (NYSE:MLM - Get Free Report) had its price objective lowered by investment analysts at Morgan Stanley from $702.00 to $664.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the construction company's stock. Morgan Stanley's target price indicates a potential upside of 11.55% from the company's previous close.

Several other brokerages also recently weighed in on MLM. DA Davidson set a $680.00 price target on shares of Martin Marietta Materials in a research report on Thursday, February 12th. Jefferies Financial Group reaffirmed a "buy" rating and set a $785.00 price target on shares of Martin Marietta Materials in a report on Thursday, February 26th. Truist Financial set a $710.00 price objective on Martin Marietta Materials in a report on Thursday, February 12th. Loop Capital cut shares of Martin Marietta Materials from a "buy" rating to a "hold" rating and set a $690.00 target price on the stock. in a research note on Wednesday, January 28th. Finally, Weiss Ratings downgraded shares of Martin Marietta Materials from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, February 23rd. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $692.31.

Martin Marietta Materials Stock Down 0.3%

Shares of NYSE MLM traded down $1.95 during trading on Monday, reaching $595.23. The company had a trading volume of 64,583 shares, compared to its average volume of 524,608. Martin Marietta Materials has a 12-month low of $441.95 and a 12-month high of $710.97. The company has a quick ratio of 2.36, a current ratio of 3.57 and a debt-to-equity ratio of 0.53. The business's 50-day moving average is $634.51 and its 200 day moving average is $629.00. The stock has a market cap of $35.90 billion, a PE ratio of 31.66, a P/E/G ratio of 2.34 and a beta of 1.19.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.81 by ($0.19). The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The business's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.79 EPS. As a group, equities analysts forecast that Martin Marietta Materials will post 19.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Martin Marietta Materials

Several hedge funds and other institutional investors have recently made changes to their positions in MLM. Lido Advisors LLC increased its holdings in Martin Marietta Materials by 0.8% during the fourth quarter. Lido Advisors LLC now owns 1,920 shares of the construction company's stock valued at $1,209,000 after buying an additional 15 shares during the last quarter. Schear Investment Advisers LLC grew its position in shares of Martin Marietta Materials by 0.6% during the 3rd quarter. Schear Investment Advisers LLC now owns 2,731 shares of the construction company's stock valued at $1,721,000 after acquiring an additional 16 shares during the period. Ashton Thomas Private Wealth LLC increased its stake in shares of Martin Marietta Materials by 3.9% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company's stock worth $264,000 after purchasing an additional 16 shares in the last quarter. Harbour Investments Inc. raised its holdings in Martin Marietta Materials by 31.4% in the 4th quarter. Harbour Investments Inc. now owns 67 shares of the construction company's stock worth $42,000 after purchasing an additional 16 shares during the period. Finally, Daymark Wealth Partners LLC lifted its position in Martin Marietta Materials by 3.9% during the third quarter. Daymark Wealth Partners LLC now owns 448 shares of the construction company's stock valued at $283,000 after purchasing an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

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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