Martin Marietta Materials, Inc. (NYSE:MLM) Stock Position Increased by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC boosted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,964 shares of the construction company’s stock after purchasing an additional 284 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Martin Marietta Materials were worth $2,655,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Riverview Trust Co bought a new stake in Martin Marietta Materials in the 1st quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of Martin Marietta Materials during the 1st quarter worth about $31,000. Fortitude Family Office LLC raised its position in shares of Martin Marietta Materials by 186.4% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after buying an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Martin Marietta Materials during the 1st quarter worth about $41,000. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MLM. Stifel Nicolaus dropped their price target on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Loop Capital dropped their price target on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Stephens dropped their price target on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Citigroup dropped their target price 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, Truist Financial dropped their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $629.82.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $546.29 on Friday. The firm’s 50 day simple moving average is $540.85 and its 200-day simple moving average is $567.21. The company has a market cap of $33.67 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.60). The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the business earned $5.60 earnings per share. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.33 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a $0.79 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Tuesday, September 3rd. 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.