Barclays Initiates Coverage on Martin Marietta Materials (MLM)

Investment analysts at Barclays started coverage on shares of Martin Marietta Materials (NYSE:MLM) in a report released on Tuesday. The firm set an “equal weight” rating and a $227.00 price target on the construction company’s stock. Barclays’ price objective suggests a potential upside of 9.53% from the company’s current price.

MLM has been the subject of several other research reports. DA Davidson reiterated a “hold” rating and issued a $225.00 price objective on shares of Martin Marietta Materials in a research note on Friday, November 3rd. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Monday, September 4th. Citigroup reiterated a “buy” rating and issued a $260.00 price objective (down previously from $270.00) on shares of Martin Marietta Materials in a research note on Monday, October 9th. Jefferies Group reiterated a “buy” rating and issued a $240.00 price objective on shares of Martin Marietta Materials in a research note on Wednesday, October 11th. Finally, Bank of America lowered their price objective on shares of Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating for the company in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $240.50.

Martin Marietta Materials (NYSE:MLM) traded down $1.43 during trading hours on Tuesday, hitting $207.25. 707,900 shares of the stock traded hands, compared to its average volume of 638,617. The company has a market cap of $13,117.53, a price-to-earnings ratio of 30.42, a P/E/G ratio of 2.18 and a beta of 1.12. The company has a quick ratio of 1.50, a current ratio of 2.73 and a debt-to-equity ratio of 0.38. Martin Marietta Materials has a 12 month low of $191.09 and a 12 month high of $244.32.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, November 2nd. The construction company reported $2.39 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($0.06). The company had revenue of $1.02 million during the quarter, compared to the consensus estimate of $1.07 billion. Martin Marietta Materials had a net margin of 11.03% and a return on equity of 10.39%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.49 EPS. equities research analysts anticipate that Martin Marietta Materials will post 6.92 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Global X Management Co. LLC boosted its holdings in Martin Marietta Materials by 42.3% during the 2nd quarter. Global X Management Co. LLC now owns 3,939 shares of the construction company’s stock worth $877,000 after acquiring an additional 1,171 shares during the last quarter. Rhumbline Advisers boosted its holdings in Martin Marietta Materials by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 129,760 shares of the construction company’s stock worth $28,882,000 after acquiring an additional 1,064 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Martin Marietta Materials by 6.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 45,820 shares of the construction company’s stock worth $10,199,000 after acquiring an additional 2,614 shares during the last quarter. Dupont Capital Management Corp purchased a new position in Martin Marietta Materials during the 2nd quarter worth $128,000. Finally, State of Wisconsin Investment Board boosted its holdings in Martin Marietta Materials by 37.4% during the 2nd quarter. State of Wisconsin Investment Board now owns 48,758 shares of the construction company’s stock worth $10,853,000 after acquiring an additional 13,260 shares during the last quarter. 97.45% of the stock is owned by institutional investors and hedge funds.

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About Martin Marietta Materials

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

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