According to The Fly, JPMorgan Chase & Co. stock analysts reduced their price target for Martin Marietta Materials (NYSE:MLM) on Thursday from $410.00 to $395.00. According to JPMorgan Chase & Co.’s price objective, the stock’s value will rise by 12.06% from its most recent closing price.
Recently, reports on MLM were also produced by other brokerages. TheStreet downgraded Martin Marietta Materials from “c+” to “b-” on Wednesday, August 10. DA Davidson lowered their price target for Martin Marietta Materials from $395.00 to $385.00 in a report issued on Wednesday, October 12. Martin Marietta Materials was upgraded by BNP Paribas from “neutral” to “outperform” in a report on Tuesday, September 20th, and the company set a $407.00 price objective on the stock. Exane Martin Marietta Materials’ rating was upgraded by BNP Paribas from “neutral” to “outperform” in a report that was released on Tuesday, September 20. Last but not least, Morgan Stanley decreased its “overweight” rating and price objective on Martin Marietta Materials from $420.00 to $409.00 in a research report published on Thursday, October 13. The stock has been recommended to be kept by just one investing analyst, while the other ten have recommended purchasing it. According to information from Bloomberg.com, the business now has an average rating of “Moderate Buy” and an average price target of $398.67.
MLM was listed for $352.50 on Thursday. The stock’s price is $338.75 based on a 200-day moving average and $335.38 based on a 50-day moving average. With a market value of $21.89 billion, a P/E ratio of 26.25, a PEG ratio of 1.91, and a beta factor of 0.87, the firm is valued on the market at that amount. Martin Marietta Materials’ 52-week range is $284.99 to $446.46. The corporation’s debt-to-equity ratios are 1.43, 2.01, and 0.63, respectively.
Institutional investors and hedge funds have recently boosted or lessened their holdings in the company. Kentucky Retirement Systems grew its stake in Martin Marietta Materials by 16.4% during the second quarter. Kentucky Retirement Systems now owns 4,629 shares of the construction company’s stock, worth $1,385,000, after acquiring an additional 653 shares. The Arizona State Retirement System boosted its stake in Martin Marietta Materials by 0.3% during the second quarter. The Arizona State Retirement System now has 17,414 shares of the construction company’s stock, worth $5,210,000, after acquiring an additional 50 shares during the period. Accretive Wealth Partners LLC grew its stake in Martin Marietta Materials by 1.3% during the first quarter. Accretive Wealth Partners LLC now owns 2,557 shares of the construction company’s stock, valued at $980,000, after acquiring an additional 34 shares during the quarter. Caprock Group Inc. grew its stake in Martin Marietta Materials by 3.5% during the second quarter. CAPROCK Group Inc. now directly owns 1,222 shares of the construction company’s stock, valued at $366,000, after acquiring 41 more shares over the past several months. Last but not least, D.A. Davidson & Co. raised its stake in Martin Marietta Materials by 1.5% during the first quarter. D.A. Davidson & CO. now owns 135 additional shares of the construction company’s stock, for a total of 14,536 shares, valued at $3,632,000. Institutions and hedge funds own 93.51% of the company’s shares.
Martin Marietta Materials, Inc., a company that specializes in building materials made from natural resources, provides aggregates and heavy-side building materials to the US and international construction industries. In addition, it offers ready-mixed concrete, asphalt, paving materials and services, Portland and specialty cement, as well as products for the railroad, agricultural, utility, and environmental sectors, as well as items for the nonresidential and residential building industries.
