Stephens analyst Trey Grooms downgraded Martin Marietta Materials to Equal Weight from Overweight with a price target of $280, down from $309. In Q4, infrastructure shipments took a pause in several geographic markets with Martin Marietta infrastructure related shipments down year-over-year, Grooms tells investors in a research note. The analyst believes the backdrop of weakening highway contract awards "creates further question around the timing." This, when combined with "choppy" leading indicators for non-residential, and some concerns around how states will handle lettings ahead of the FAST Act expiring, creates uncertainty around the demand picture, contends Grooms. As such, the analyst thinks Martin Marietta shares "could take a pause until we get more clarity."