MQS Management LLC Makes New $560,000 Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

MQS Management LLC purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,034 shares of the construction company’s stock, valued at approximately $560,000.

Several other institutional investors have also recently added to or reduced their stakes in MLM. XTX Topco Ltd increased its position in shares of Martin Marietta Materials by 66.4% in the 2nd quarter. XTX Topco Ltd now owns 2,641 shares of the construction company’s stock worth $1,431,000 after purchasing an additional 1,054 shares during the last quarter. Hsbc Holdings PLC raised its stake in Martin Marietta Materials by 20.0% during the second quarter. Hsbc Holdings PLC now owns 128,806 shares of the construction company’s stock valued at $69,839,000 after buying an additional 21,488 shares in the last quarter. Beck Bode LLC increased its holdings in shares of Martin Marietta Materials by 36.6% in the 2nd quarter. Beck Bode LLC now owns 11,455 shares of the construction company’s stock valued at $6,206,000 after acquiring an additional 3,067 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Martin Marietta Materials by 6.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,964 shares of the construction company’s stock worth $2,655,000 after buying an additional 284 shares during the last quarter. Finally, Tredje AP fonden lifted its holdings in Martin Marietta Materials by 8.7% in the second quarter. Tredje AP fonden now owns 29,471 shares of the construction company’s stock worth $15,967,000 after acquiring an additional 2,348 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup cut their price target on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Stifel Nicolaus cut their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Truist Financial lowered their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Loop Capital reduced their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group upped their target price on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $629.82.

Martin Marietta Materials Price Performance

NYSE MLM opened at $534.01 on Thursday. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week 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 firm has a market capitalization of $32.92 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91. The company has a 50 day simple moving average of $541.16 and a 200-day simple moving average of $567.73.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly 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). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the company posted $5.60 earnings per share. The company’s revenue was down 3.1% compared to the same quarter last year. Equities research analysts predict that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.79 per share. The ex-dividend date is Tuesday, September 3rd. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.59%. Martin Marietta Materials’s dividend payout ratio (DPR) 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.