Martin Marietta Materials, Inc. (NYSE:MLM) Shares Acquired by Marietta Investment Partners LLC

Marietta Investment Partners LLC raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,654 shares of the construction company’s stock after acquiring an additional 30 shares during the quarter. Martin Marietta Materials makes up 1.4% of Marietta Investment Partners LLC’s investment portfolio, making the stock its 25th biggest holding. Marietta Investment Partners LLC’s holdings in Martin Marietta Materials were worth $6,314,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Assets Advisory LLC acquired a new position in shares of Martin Marietta Materials during the 1st quarter worth about $22,265,000. Cambridge Investment Research Advisors Inc. boosted 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 purchasing an additional 1,728 shares during the period. Brevan Howard Capital Management LP boosted its position in shares of Martin Marietta Materials by 49.7% in the 4th quarter. Brevan Howard Capital Management LP now owns 5,672 shares of the construction company’s stock valued at $2,830,000 after purchasing an additional 1,882 shares during the period. Vanguard Group Inc. boosted its position in shares of Martin Marietta Materials by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after purchasing an additional 69,701 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Martin Marietta Materials by 182.5% in the 1st quarter. BNP Paribas Financial Markets now owns 73,135 shares of the construction company’s stock valued at $44,901,000 after purchasing an additional 47,250 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Stephens decreased their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Jefferies Financial Group upped their target price on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Morgan Stanley upped their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Loop Capital reduced their price objective on 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, Truist Financial reduced their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Four equities 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $629.82.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $546.29 on Monday. The business has a 50 day moving average price of $540.85 and a 200 day moving average price of $566.68. The company has a market capitalization of $33.67 billion, a P/E ratio of 16.19, a PEG 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 1-year low of $389.90 and a 1-year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The company had revenue of $1.76 billion for 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%. Martin Marietta Materials’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $5.60 EPS. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.33 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Tuesday, September 3rd. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio is 9.36%.

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.