Ieq Capital LLC Increases Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Ieq Capital LLC lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,604 shares of the construction company’s stock after purchasing an additional 114 shares during the period. Ieq Capital LLC’s holdings in Martin Marietta Materials were worth $1,952,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in Martin Marietta Materials by 114.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after buying an additional 523,038 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in Martin Marietta Materials by 4,244.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company’s stock valued at $138,289,000 after buying an additional 270,802 shares in the last quarter. Vanguard Group Inc. increased its holdings in Martin Marietta Materials by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after buying an additional 69,701 shares in the last quarter. M&G Plc purchased a new position in Martin Marietta Materials in the first quarter valued at about $41,142,000. Finally, 1832 Asset Management L.P. increased its holdings in Martin Marietta Materials by 415,284.6% in the fourth quarter. 1832 Asset Management L.P. now owns 54,000 shares of the construction company’s stock valued at $26,941,000 after buying an additional 53,987 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 0.4 %

Shares of MLM opened at $546.29 on Monday. The firm has a market cap of $33.67 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91. The company’s fifty day moving average is $540.85 and its two-hundred day moving average is $566.68. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. 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 announced 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). The company had revenue of $1.76 billion during the quarter, compared to analyst estimates 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 for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the business earned $5.60 EPS. Analysts forecast that Martin Marietta Materials, Inc. will post 19.33 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 issued a dividend of $0.79 per share. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date is Tuesday, September 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. Martin Marietta Materials’s payout ratio is presently 9.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. Truist Financial decreased 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 research report on Friday, August 9th. Jefferies Financial Group raised 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. Finally, Citigroup decreased 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 research report on Monday, August 12th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus target price of $629.82.

About Martin Marietta Materials

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.