Mercer Global Advisors Inc. ADV Buys 4,337 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Mercer Global Advisors Inc. ADV boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 239.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,152 shares of the construction company’s stock after purchasing an additional 4,337 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Martin Marietta Materials were worth $3,333,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

MLM has been the subject of a number of recent research reports. Stephens lowered their price objective on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, September 17th. Morgan Stanley raised 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 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, Truist Financial dropped their price target 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. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $629.82.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $546.29 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86. The company has a market capitalization 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. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week high of $626.67. The company has a 50-day simple moving average of $540.85 and a 200 day simple moving average of $566.68.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly 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). 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 the consensus estimate of $1.83 billion. During the same period last year, the firm posted $5.60 EPS. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend 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 currently 9.36%.

Martin Marietta Materials Company 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.