Edgestream Partners L.P. Buys Shares of 1,242 Martin Marietta Materials, Inc. (NYSE:MLM)

Edgestream Partners L.P. bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,242 shares of the construction company’s stock, valued at approximately $673,000.

A number of other large investors also recently added to or reduced their stakes in MLM. Gilbert & Cook Inc. lifted its position in Martin Marietta Materials by 3.1% during the 4th quarter. Gilbert & Cook Inc. now owns 1,436 shares of the construction company’s stock valued at $716,000 after purchasing an additional 43 shares during the period. 9258 Wealth Management LLC acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $203,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Martin Marietta Materials by 25.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 8,562 shares of the construction company’s stock valued at $4,272,000 after acquiring an additional 1,728 shares during the period. US Bancorp DE raised its position in shares of Martin Marietta Materials by 0.8% in the 4th quarter. US Bancorp DE now owns 10,021 shares of the construction company’s stock valued at $5,000,000 after acquiring an additional 84 shares during the period. Finally, Commerce Bank raised its position in shares of Martin Marietta Materials by 2.6% in the 4th quarter. Commerce Bank now owns 2,840 shares of the construction company’s stock valued at $1,417,000 after acquiring an additional 72 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

Shares of MLM opened at $546.29 on Friday. The stock has a market capitalization of $33.67 billion, a P/E ratio of 16.19, a P/E/G ratio of 3.52 and a beta of 0.91. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month high of $626.67. The company has a 50 day moving average of $540.85 and a 200-day moving average of $566.97. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly 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). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the business earned $5.60 earnings per share. Martin Marietta Materials’s revenue was down 3.1% compared to the same quarter last year. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.33 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost 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%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.36%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MLM. 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 research report on Monday, August 12th. Stifel Nicolaus dropped their target price on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. Loop Capital dropped their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. 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 research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average target price of $629.82.

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.