Martin Marietta Materials (NYSE:MLM) Given New $610.00 Price Target at Wells Fargo & Company

Martin Marietta Materials (NYSE:MLM) had its target price decreased by equities research analysts at Wells Fargo & Company from $620.00 to $610.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 0.23% from the company’s previous close.

Several other brokerages have also issued reports on MLM. Morgan Stanley upped their target price on Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Wednesday, October 8th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $525.00 price objective (up from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Stephens reissued an “overweight” rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a report on Monday, August 4th. Finally, Stifel Nicolaus upped their target price on Martin Marietta Materials from $609.00 to $637.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and an average target price of $627.94.

Martin Marietta Materials Trading Down 0.3%

Shares of NYSE:MLM traded down $2.03 during trading on Thursday, hitting $608.59. 64,466 shares of the company’s stock were exchanged, compared to its average volume of 449,895. Martin Marietta Materials has a 1-year low of $441.95 and a 1-year high of $665.18. The firm has a 50-day moving average price of $621.89 and a two-hundred day moving average price of $581.89. 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 firm has a market cap of $36.70 billion, a P/E ratio of 33.69, a PEG ratio of 5.57 and a beta of 1.01.

Martin Marietta Materials (NYSE:MLM) last released its 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). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. Equities analysts predict that Martin Marietta Materials will post 19.53 earnings per share for the current year.

Insider Activity

In other news, Director Laree E. Perez sold 1,038 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $613.32, for a total value of $636,626.16. Following the sale, the director owned 15,417 shares of the company’s stock, valued at approximately $9,455,554.44. The trade was a 6.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.69% of the company’s stock.

Institutional Trading of Martin Marietta Materials

Several hedge funds have recently added to or reduced their stakes in MLM. Schear Investment Advisers LLC lifted its holdings in Martin Marietta Materials by 0.6% during the third quarter. Schear Investment Advisers LLC now owns 2,731 shares of the construction company’s stock worth $1,721,000 after acquiring an additional 16 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Martin Marietta Materials by 10.4% during the second quarter. Parkside Financial Bank & Trust now owns 181 shares of the construction company’s stock worth $99,000 after acquiring an additional 17 shares in the last quarter. Daymark Wealth Partners LLC lifted its holdings in Martin Marietta Materials by 3.9% during the third quarter. Daymark Wealth Partners LLC now owns 448 shares of the construction company’s stock worth $283,000 after acquiring an additional 17 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in Martin Marietta Materials by 2.9% during the third quarter. Ritholtz Wealth Management now owns 646 shares of the construction company’s stock worth $407,000 after acquiring an additional 18 shares in the last quarter. Finally, Snowden Capital Advisors LLC lifted its holdings in Martin Marietta Materials by 1.9% during the second quarter. Snowden Capital Advisors LLC now owns 970 shares of the construction company’s stock worth $533,000 after acquiring an additional 18 shares in 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.