SunTrust Banks, Inc. Reaffirms Buy Rating for Martin Marietta Materials, Inc. (MLM)

SunTrust Banks, Inc. reissued their buy rating on shares of Martin Marietta Materials, Inc. (NYSE:MLM) in a research report report published on Friday. SunTrust Banks, Inc. currently has a $228.00 target price on the construction company’s stock.

Other analysts also recently issued reports about the company. BidaskClub downgraded Martin Marietta Materials from a hold rating to a sell rating in a research note on Saturday, August 5th. Zacks Investment Research downgraded Martin Marietta Materials from a buy rating to a hold rating in a research note on Friday, July 14th. Jefferies Group LLC reaffirmed a buy rating and issued a $240.00 target price on shares of Martin Marietta Materials in a research note on Wednesday, October 11th. Citigroup Inc. reiterated a buy rating and set a $260.00 price target (down from $270.00) on shares of Martin Marietta Materials in a report on Monday, October 9th. Finally, Bank of America Corporation lowered their price target on Martin Marietta Materials from $233.00 to $229.00 and set a neutral rating for the company in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $245.33.

Martin Marietta Materials (MLM) traded up 0.11% on Friday, hitting $217.36. 206,781 shares of the company were exchanged. The stock’s 50-day moving average price is $205.69 and its 200-day moving average price is $217.41. The stock has a market capitalization of $13.66 billion, a P/E ratio of 31.28 and a beta of 1.13. Martin Marietta Materials has a 52-week low of $176.21 and a 52-week high of $244.32.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, August 1st. The construction company reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.38 by ($0.13). Martin Marietta Materials had a return on equity of 10.69% and a net margin of 11.19%. The company had revenue of $996.30 million during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $1.90 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts anticipate that Martin Marietta Materials will post $7.14 earnings per share for the current fiscal year.

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In other Martin Marietta Materials news, Director John J. Koraleski bought 500 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were acquired at an average price of $198.37 per share, with a total value of $99,185.00. Following the transaction, the director now owns 1,439 shares of the company’s stock, valued at $285,454.43. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 8.45% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Profund Advisors LLC increased its position in Martin Marietta Materials by 0.3% during the second quarter. Profund Advisors LLC now owns 1,600 shares of the construction company’s stock worth $356,000 after buying an additional 5 shares during the period. First National Bank of Hutchinson grew its stake in shares of Martin Marietta Materials by 0.3% in the 2nd quarter. First National Bank of Hutchinson now owns 2,214 shares of the construction company’s stock valued at $505,000 after purchasing an additional 6 shares during the last quarter. L & S Advisors Inc grew its stake in shares of Martin Marietta Materials by 0.8% in the 2nd quarter. L & S Advisors Inc now owns 3,091 shares of the construction company’s stock valued at $688,000 after purchasing an additional 26 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Martin Marietta Materials by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 9,431 shares of the construction company’s stock valued at $2,099,000 after purchasing an additional 27 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. grew its stake in shares of Martin Marietta Materials by 0.7% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 4,438 shares of the construction company’s stock valued at $988,000 after purchasing an additional 30 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

About Martin Marietta Materials

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

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