Dorsey & Whitney Trust CO LLC Purchases 39 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Dorsey & Whitney Trust CO LLC raised its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 7.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 556 shares of the construction company’s stock after buying an additional 39 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Martin Marietta Materials were worth $301,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Choreo LLC bought a new stake in Martin Marietta Materials during the second quarter worth about $935,000. Quest Partners LLC lifted its holdings in shares of Martin Marietta Materials by 5,856.3% during the second quarter. Quest Partners LLC now owns 953 shares of the construction company’s stock valued at $516,000 after purchasing an additional 937 shares during the last quarter. Triasima Portfolio Management inc. boosted its position in shares of Martin Marietta Materials by 12.5% in the 2nd quarter. Triasima Portfolio Management inc. now owns 5,562 shares of the construction company’s stock worth $3,013,000 after purchasing an additional 616 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Martin Marietta Materials in the 2nd quarter worth approximately $162,000. Finally, Patron Partners LLC increased its position in Martin Marietta Materials by 7.8% during the 2nd quarter. Patron Partners LLC now owns 495 shares of the construction company’s stock valued at $268,000 after buying an additional 36 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Stephens dropped their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Truist Financial cut their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. Citigroup cut their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Morgan Stanley raised their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $629.82.

Martin Marietta Materials Price Performance

NYSE MLM opened at $515.33 on Friday. The stock has a market capitalization of $31.76 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 3.43 and a beta of 0.91. Martin Marietta Materials, Inc. has a 1-year low of $389.90 and a 1-year high of $626.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. The business’s fifty day moving average price is $542.00 and its 200-day moving average price is $569.22.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $5.60 EPS. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 19.59 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.61%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date is Tuesday, September 3rd. Martin Marietta Materials’s payout ratio is 9.36%.

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.