Citigroup Boosts Martin Marietta Materials (NYSE:MLM) Price Target to $708.00

Martin Marietta Materials (NYSE:MLM - Get Free Report) had its target price raised by analysts at Citigroup from $635.00 to $708.00 in a report released on Friday, Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Citigroup's target price points to a potential upside of 14.30% from the stock's previous close.

MLM has been the topic of several other reports. HSBC upgraded shares of Martin Marietta Materials from a "reduce" rating to a "hold" rating and boosted their price objective for the company from $376.00 to $543.00 in a report on Thursday, February 22nd. Raymond James boosted their price target on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the stock an "outperform" rating in a research note on Thursday, January 25th. Truist Financial boosted their price target on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a "buy" rating in a research note on Tuesday. Stifel Nicolaus boosted their price target on shares of Martin Marietta Materials from $510.00 to $598.00 and gave the stock a "buy" rating in a research note on Tuesday, December 19th. Finally, Stephens boosted their price target on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the stock an "overweight" rating in a research note on Friday, February 16th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $577.38.

Martin Marietta Materials Trading Up 2.5 %

Shares of MLM stock traded up $15.32 on Friday, hitting $619.41. 392,431 shares of the stock traded hands, compared to its average volume of 402,463. The firm's 50-day moving average price is $570.92 and its two-hundred day moving average price is $496.86. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.50 and a current ratio of 3.35. The stock has a market capitalization of $38.29 billion, a PE ratio of 32.89, a PEG ratio of 2.98 and a beta of 0.96. Martin Marietta Materials has a twelve month low of $332.13 and a twelve month high of $622.28.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.67. The firm had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.62 billion. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The company's revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.04 EPS. As a group, analysts anticipate that Martin Marietta Materials will post 21.09 EPS for the current year.

Insider Activity at Martin Marietta Materials

In related news, Director Sue W. Cole sold 1,724 shares of the company's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $543.48, for a total value of $936,959.52. Following the completion of the transaction, the director now directly owns 19,793 shares of the company's stock, valued at $10,757,099.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Sue W. Cole sold 1,724 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $543.48, for a total value of $936,959.52. Following the completion of the sale, the director now directly owns 19,793 shares of the company's stock, valued at $10,757,099.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total value of $6,032,900.00. Following the completion of the sale, the executive vice president now directly owns 59,970 shares of the company's stock, valued at $36,179,301.30. The disclosure for this sale can be found here. Insiders sold 26,724 shares of company stock valued at $16,033,760 over the last three months. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Martin Marietta Materials

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Martin Marietta Materials by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company's stock worth $3,577,268,000 after acquiring an additional 69,701 shares in the last quarter. State Street Corp raised its holdings in shares of Martin Marietta Materials by 2.3% during the 2nd quarter. State Street Corp now owns 2,569,976 shares of the construction company's stock valued at $1,186,532,000 after buying an additional 58,864 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Martin Marietta Materials by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company's stock valued at $838,421,000 after buying an additional 181,136 shares during the period. FMR LLC increased its holdings in Martin Marietta Materials by 225.3% during the 3rd quarter. FMR LLC now owns 1,833,959 shares of the construction company's stock worth $752,803,000 after purchasing an additional 1,270,116 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Martin Marietta Materials by 2.2% during the 1st quarter. Geode Capital Management LLC now owns 1,286,937 shares of the construction company's stock worth $455,900,000 after purchasing an additional 27,930 shares during 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.