Martin Marietta Materials (NYSE:MLM) Given New $737.00 Price Target at The Goldman Sachs Group

Martin Marietta Materials (NYSE:MLM - Get Free Report) had its target price raised by analysts at The Goldman Sachs Group from $642.00 to $737.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. The Goldman Sachs Group's price objective would indicate a potential upside of 23.95% from the company's current price.

Other equities research analysts have also issued research reports about the company. Stephens boosted their price target on Martin Marietta Materials from $575.00 to $605.00 and gave the stock an "overweight" rating in a research note on Friday, February 16th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. Morgan Stanley started coverage on shares of Martin Marietta Materials in a research note on Monday, January 8th. They issued an "overweight" rating and a $595.00 target price for the company. Citigroup lifted their target price on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a "buy" rating in a research note on Friday, April 5th. Finally, Stifel Nicolaus lifted their target price on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a "buy" rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $588.69.

Martin Marietta Materials Stock Down 0.8 %

Shares of MLM traded down $4.65 during midday trading on Tuesday, reaching $594.59. 344,146 shares of the stock were exchanged, compared to its average volume of 399,367. Martin Marietta Materials has a 52 week low of $343.79 and a 52 week high of $626.67. The company has a current ratio of 3.35, a quick ratio of 2.50 and a debt-to-equity ratio of 0.49. The company's 50 day moving average is $582.21 and its two-hundred day moving average is $506.31. The company has a market capitalization of $36.76 billion, a P/E ratio of 31.58, a PEG ratio of 2.94 and a beta of 0.96.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, topping analysts' consensus estimates of $3.96 by $0.67. The firm had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.62 billion. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The firm's quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.04 EPS. On average, sell-side analysts anticipate that Martin Marietta Materials will post 21.09 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO C Howard Nye sold 15,000 shares of the business's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the sale, the chief executive officer now owns 134,640 shares of the company's stock, valued at approximately $81,357,566.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Martin Marietta Materials news, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the sale, the director now owns 19,793 shares of the company's stock, valued at approximately $10,757,099.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO C Howard Nye sold 15,000 shares of Martin Marietta Materials stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the sale, the chief executive officer now directly owns 134,640 shares in the company, valued at approximately $81,357,566.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,724 shares of company stock valued at $16,033,760. 0.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Martin Marietta Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atwater Malick LLC acquired a new position in shares of Martin Marietta Materials during the 1st quarter valued at about $236,000. Cypress Wealth Services LLC acquired a new position in shares of Martin Marietta Materials during the 1st quarter valued at about $244,000. Dohj LLC acquired a new position in shares of Martin Marietta Materials during the 1st quarter valued at about $933,000. 180 Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials during the 1st quarter valued at about $670,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Martin Marietta Materials by 18.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,722 shares of the construction company's stock valued at $3,513,000 after buying an additional 881 shares during the last quarter. Institutional investors and hedge funds 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.