Martin Marietta Materials (NYSE:MLM) Research Coverage Started at BNP Paribas

BNP Paribas began coverage on shares of Martin Marietta Materials (NYSE:MLM) in a research report issued on Wednesday, Briefing.com Automated Import reports. The firm set an “underperform” rating on the construction company’s stock.

A number of other equities research analysts have also commented on MLM. Jefferies Financial Group raised their price objective on Martin Marietta Materials from $265.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. ValuEngine lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Longbow Research set a $265.00 price objective on Martin Marietta Materials and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. raised their price objective on Martin Marietta Materials from $265.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $231.86.

Shares of NYSE:MLM traded up $2.50 during midday trading on Wednesday, reaching $265.45. The company had a trading volume of 224,074 shares, compared to its average volume of 616,612. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.08 and a current ratio of 1.86. Martin Marietta Materials has a 1-year low of $150.75 and a 1-year high of $275.99. The firm has a market cap of $16.35 billion, a price-to-earnings ratio of 32.81, a price-to-earnings-growth ratio of 2.44 and a beta of 1.11. The company has a fifty day simple moving average of $260.96 and a two-hundred day simple moving average of $231.31.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $3.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.08 by ($0.07). Martin Marietta Materials had a net margin of 11.37% and a return on equity of 10.35%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the business earned $3.25 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts expect that Martin Marietta Materials will post 9.38 EPS for the current year.

In other news, EVP Roselyn R. Bar sold 2,821 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $246.93, for a total transaction of $696,589.53. Following the completion of the sale, the executive vice president now directly owns 57,149 shares of the company’s stock, valued at approximately $14,111,802.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO C Howard Nye sold 7,440 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $253.52, for a total value of $1,886,188.80. Following the sale, the chief executive officer now directly owns 154,544 shares of the company’s stock, valued at $39,179,994.88. The disclosure for this sale can be found here. Insiders have sold a total of 21,485 shares of company stock valued at $5,317,618 over the last 90 days. Corporate insiders own 0.73% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Meridian Wealth Management LLC purchased a new stake in shares of Martin Marietta Materials during the 1st quarter worth about $64,000. Bank of New York Mellon Corp raised its stake in shares of Martin Marietta Materials by 10.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,151,362 shares of the construction company’s stock worth $264,939,000 after purchasing an additional 105,241 shares in the last quarter. Northern Trust Corp raised its stake in shares of Martin Marietta Materials by 1.6% during the 1st quarter. Northern Trust Corp now owns 714,199 shares of the construction company’s stock worth $143,684,000 after purchasing an additional 10,945 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Martin Marietta Materials during the 2nd quarter worth about $41,050,000. Finally, Advisory Services Network LLC raised its stake in shares of Martin Marietta Materials by 68.1% during the 1st quarter. Advisory Services Network LLC now owns 6,681 shares of the construction company’s stock worth $1,344,000 after purchasing an additional 2,706 shares in the last quarter.

About Martin Marietta Materials

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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.

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Analyst Recommendations for Martin Marietta Materials (NYSE:MLM)

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