Martin Marietta Materials (NYSE:MLM) PT Raised to $650.00 at Stifel Nicolaus

Martin Marietta Materials (NYSE:MLM) had its price target raised by investment analysts at Stifel Nicolaus from $621.00 to $650.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 9.32% from the company’s current price.

Several other equities analysts have also commented on the company. Wolfe Research lowered Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. HSBC raised shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and increased their target price for the company from $376.00 to $543.00 in a report on Thursday, February 22nd. Morgan Stanley initiated coverage on shares of Martin Marietta Materials in a research report on Monday, January 8th. They set an “overweight” rating and a $595.00 price target for the company. Finally, The Goldman Sachs Group lifted their price objective on Martin Marietta Materials from $560.00 to $642.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target of $588.69.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $594.59 on Monday. The stock has a 50 day simple moving average of $582.21 and a 200 day simple moving average of $506.31. The stock has a market cap 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 has a 1-year low of $343.79 and a 1-year 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.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 14th. The construction company reported $4.63 EPS for the quarter, topping the consensus estimate of $3.96 by $0.67. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.04 EPS. Research analysts anticipate that Martin Marietta Materials will post 21.09 earnings per share for the current year.

Insider Activity at Martin Marietta Materials

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

Institutional Investors Weigh In On Martin Marietta Materials

Several institutional investors and hedge funds have recently modified their holdings of MLM. Atwater Malick LLC purchased a new position in Martin Marietta Materials during the first quarter valued at $236,000. Cypress Wealth Services LLC purchased a new position in shares of Martin Marietta Materials during the first quarter valued at about $244,000. Dohj LLC bought a new stake in shares of Martin Marietta Materials in the first quarter worth about $933,000. 180 Wealth Advisors LLC purchased a new stake in shares of Martin Marietta Materials in the first quarter worth about $670,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Martin Marietta Materials by 18.2% during 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 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.