Martin Marietta Materials (MLM) is Downgraded by Goldman to Neutral

Martin Marietta Materials (MLM) was Downgraded by Goldman to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Goldman advised their investors in a research report released on Oct 11, 2016.

Many Wall Street Analysts have commented on Martin Marietta Materials. Company shares were Reiterated by DA Davidson on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 210 from a previous price target of $190 .

On the company’s financial health, Martin Marietta Materials reported $1.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $2.00. The company had revenue of $915.40 million for the quarter, compared to analysts expectations of $997.65 million. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS.

Martin Marietta Materials closed down -8.33 points or -4.67% at $170.12 with 12,18,392 shares getting traded on Friday. Post opening the session at $178.45, the shares hit an intraday low of $169.86 and an intraday high of $178.98 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Aug 30, 2016, Roselyn R Bar (EVP, General Counsel and Secy) sold 5,830 shares at $199.99 per share price. According to the SEC, on Aug 11, 2016, David G Maffucci (director) sold 6,779 shares at $200.15 per share price. On Jun 9, 2016, Stephen P Jr Zelnak (director) sold 3,000 shares at $188.90 per share price, according to the Form-4 filing with the securities and exchange commission.

Martin Marietta Materials Inc. is a supplier of aggregates products (crushed stone sand and gravel) and heavy building materials (cement) for the construction industry including infrastructure non-residential residential railroad ballast agricultural and chemical grade stone used in environmental applications. The Company operates through three businesses: Aggregates Business Cement Business and Magnesia Specialties Business. The Company’s Aggregates Business is engaged in mining processing and selling granite limestone sand gravel and other aggregate products. The Company’s Cement Business is engaged in producing Portland and specialty cements such as masonry and oil well cements. The Company’s Magnesia Specialties Business includes magnesia-based chemicals and dolomitic lime businesses.

Martin Marietta Materials

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