Martin Marietta Materials, Inc. (MLM) Receives $221.67 Average PT from Analysts
Martin Marietta Materials, Inc. (NYSE:MLM) has earned a consensus rating of “Buy” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $219.56.
A number of equities analysts have recently commented on MLM shares. Citigroup set a $231.00 price objective on shares of Martin Marietta Materials and gave the stock a “buy” rating in a report on Thursday. Nomura started coverage on shares of Martin Marietta Materials in a report on Monday, October 29th. They set a “buy” rating and a $220.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of Martin Marietta Materials from $256.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Bank of America reduced their price objective on shares of Martin Marietta Materials to $247.00 and set a “buy” rating for the company in a report on Wednesday, July 25th. Finally, Stephens set a $187.00 price objective on shares of Martin Marietta Materials and gave the stock a “hold” rating in a report on Wednesday, October 17th.
Martin Marietta Materials stock traded down $4.09 during mid-day trading on Monday, reaching $184.29. The company had a trading volume of 1,188,532 shares, compared to its average volume of 1,531,507. The company has a market cap of $11.96 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09. Martin Marietta Materials has a 52 week low of $150.75 and a 52 week high of $241.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.88 and a quick ratio of 1.14.
In related news, SVP Donald A. Mccunniff sold 2,250 shares of the stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $204.33, for a total transaction of $459,742.50. Following the completion of the sale, the senior vice president now owns 12,649 shares in the company, valued at approximately $2,584,570.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.75% of the company’s stock.
Several institutional investors have recently made changes to their positions in MLM. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Martin Marietta Materials during the 3rd quarter worth about $110,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Martin Marietta Materials during the 2nd quarter worth about $128,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Martin Marietta Materials during the 2nd quarter worth about $160,000. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of Martin Marietta Materials during the 3rd quarter worth about $181,000. Finally, NuWave Investment Management LLC increased its position in shares of Martin Marietta Materials by 18,400.0% during the 3rd quarter. NuWave Investment Management LLC now owns 1,110 shares of the construction company’s stock worth $202,000 after purchasing an additional 1,104 shares in the last quarter.
Martin Marietta Materials Company Profile
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 provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; 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.
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