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. The company also produces magnesia-based chemicals products that are used in industrial, agricultural, and environmental applications; and dolomitic lime primarily to customers for steel production and soil stabilization. Its chemical products are used in flame retardants, wastewater treatment, pulp and paper production, and other environmental applications. The company was founded in 1939 and is headquartered in Raleigh, North Carolina.
Martin Marietta Materials Price Performance
MLM traded down $0.46 during trading on Thursday, reaching $364.88. 331,201 shares of the company were exchanged, compared to its average volume of 469,770. The company's 50-day moving average is $324.20 and its two-hundred day moving average is $352.00. Martin Marietta Materials has a 12-month low of $284.99 and a 12-month high of $446.46. The company has a market cap of $22.76 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 1.75 and a beta of 0.88. The company has a quick ratio of 2.53, a current ratio of 3.63 and a debt-to-equity ratio of 0.74.
Martin Marietta Materials (NYSE:MLM - Get Rating) last released its quarterly earnings results on Thursday, July 28th. The construction company reported $3.96 earnings per share for the quarter, missing the consensus estimate of $4.09 by ($0.13). Martin Marietta Materials had a net margin of 13.49% and a return on equity of 11.28%. The business had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same period in the previous year, the business earned $3.81 EPS. The business's revenue was up 19.1% on a year-over-year basis. Research analysts forecast that Martin Marietta Materials will post 13.28 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on MLM shares. DA Davidson cut their target price on shares of Martin Marietta Materials from $450.00 to $375.00 and set a "buy" rating on the stock in a research report on Friday, July 1st. Truist Financial cut their price target on shares of Martin Marietta Materials to $392.00 in a research report on Tuesday, July 5th. Wolfe Research upgraded shares of Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and cut their price target for the company from $406.00 to $384.00 in a research report on Thursday, July 14th. Morgan Stanley increased their price target on shares of Martin Marietta Materials from $394.00 to $420.00 and gave the company an "overweight" rating in a research report on Monday, August 1st. Finally, StockNews.com upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Monday, August 1st. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials has a consensus rating of "Moderate Buy" and an average price target of $414.60.