Global Assets Advisory LLC Takes Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Global Assets Advisory LLC bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 36,265 shares of the construction company’s stock, valued at approximately $22,265,000. Global Assets Advisory LLC owned 0.06% of Martin Marietta Materials at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Kestra Advisory Services LLC lifted its holdings in shares of Martin Marietta Materials by 3.3% in the 3rd quarter. Kestra Advisory Services LLC now owns 1,598 shares of the construction company’s stock worth $656,000 after acquiring an additional 51 shares during the last quarter. QRG Capital Management Inc. bought a new stake in shares of Martin Marietta Materials in the third quarter worth about $488,000. Nordea Investment Management AB increased its holdings in Martin Marietta Materials by 2.8% during the 3rd quarter. Nordea Investment Management AB now owns 4,050 shares of the construction company’s stock valued at $1,681,000 after purchasing an additional 111 shares during the period. LPL Financial LLC raised its position in Martin Marietta Materials by 3.6% during the 3rd quarter. LPL Financial LLC now owns 22,776 shares of the construction company’s stock valued at $9,349,000 after purchasing an additional 786 shares during the last quarter. Finally, Mariner LLC lifted its holdings in Martin Marietta Materials by 3.9% in the 3rd quarter. Mariner LLC now owns 4,542 shares of the construction company’s stock worth $1,864,000 after buying an additional 172 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 0.6 %

MLM stock opened at $540.68 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. Martin Marietta Materials, Inc. has a 1-year low of $389.90 and a 1-year high of $626.67. The stock has a market capitalization of $33.33 billion, a P/E ratio of 16.02, a P/E/G ratio of 2.39 and a beta of 0.93. The business has a fifty day moving average price of $578.18 and a 200-day moving average price of $555.51.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. Martin Marietta Materials’s revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.16 EPS. Equities analysts forecast that Martin Marietta Materials, Inc. will post 23.29 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.74 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.96 annualized dividend and a dividend yield of 0.55%. Martin Marietta Materials’s payout ratio is 8.77%.

Wall Street Analysts Forecast Growth

MLM has been the topic of several recent analyst reports. Citigroup lifted their price target on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a report on Friday, April 5th. Truist Financial raised their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $600.00 price target (up from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. The Goldman Sachs Group upped their target price on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Stifel Nicolaus lifted their price target on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target of $610.27.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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.