Wells Fargo & Company Issues Pessimistic Forecast for Martin Marietta Materials (NYSE:MLM) Stock Price

Martin Marietta Materials (NYSE:MLM) had its price objective reduced by equities research analysts at Wells Fargo & Company from $620.00 to $610.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 0.01% from the stock’s current price.

MLM has been the topic of several other reports. Wall Street Zen upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Raymond James Financial raised their price target on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Morgan Stanley upped their price objective on Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Barclays increased their target price on Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $525.00 target price (up previously from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $632.88.

Martin Marietta Materials Stock Performance

MLM opened at $610.09 on Thursday. The stock’s 50 day simple moving average is $621.68 and its 200-day simple moving average is $582.94. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. The stock has a market cap of $36.79 billion, a PE ratio of 33.84, a P/E/G ratio of 5.57 and a beta of 1.06. Martin Marietta Materials has a 1 year low of $441.95 and a 1 year high of $665.18.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.06 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%. Martin Marietta Materials has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Martin Marietta Materials will post 19.53 EPS for the current year.

Institutional Investors Weigh In On Martin Marietta Materials

Large investors have recently bought and sold shares of the business. L & S Advisors Inc raised its position in Martin Marietta Materials by 108.2% in the 3rd quarter. L & S Advisors Inc now owns 10,966 shares of the construction company’s stock valued at $6,912,000 after purchasing an additional 5,700 shares during the last quarter. NewEdge Wealth LLC grew its holdings in shares of Martin Marietta Materials by 1.9% during the third quarter. NewEdge Wealth LLC now owns 5,673 shares of the construction company’s stock worth $3,464,000 after purchasing an additional 108 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the third quarter valued at $32,000. Syon Capital LLC increased its stake in shares of Martin Marietta Materials by 17.7% in the third quarter. Syon Capital LLC now owns 1,209 shares of the construction company’s stock valued at $762,000 after buying an additional 182 shares in the last quarter. Finally, Crestwood Advisors Group LLC acquired a new position in Martin Marietta Materials during the 3rd quarter worth about $236,000. 95.04% of the stock is currently owned by institutional investors.

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.