Martin Marietta Materials (NYSE:MLM) Stock Rating Upgraded by DA Davidson

Martin Marietta Materials (NYSE:MLM) was upgraded by investment analysts at DA Davidson to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. Truist Financial increased their target price on Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Stephens lowered their price target on Martin Marietta Materials from $700.00 to $680.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, July 28th. Wolfe Research set a $648.00 price objective on shares of Martin Marietta Materials in a research report on Tuesday, August 4th. Finally, Raymond James Financial set a $660.00 price objective on shares of Martin Marietta Materials in a research note on Friday, July 31st. Ten analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $665.29.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $532.58 on Monday. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $31.99 billion, a P/E ratio of 13.09, a PEG ratio of 2.30 and a beta of 1.11. The stock’s 50 day moving average is $567.14 and its 200 day moving average is $593.72. Martin Marietta Materials has a twelve month low of $522.19 and a twelve month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, beating analysts’ consensus estimates of $4.76 by $0.24. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter last year, the company earned $5.43 EPS. On average, equities research analysts predict that Martin Marietta Materials will post 19.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. lifted its holdings in shares of Martin Marietta Materials by 67.9% during the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after purchasing an additional 19 shares in the last quarter. CoreCap Advisors LLC increased its holdings in Martin Marietta Materials by 370.0% in the 2nd quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock worth $27,000 after buying an additional 37 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in Martin Marietta Materials in the 4th quarter worth about $31,000. Reflection Asset Management purchased a new position in Martin Marietta Materials in the 4th quarter worth about $35,000. Finally, Quarry LP purchased a new position in Martin Marietta Materials in the 3rd quarter worth about $38,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.