Summit Trail Advisors LLC Purchases 54 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Summit Trail Advisors LLC boosted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,480 shares of the construction company’s stock after purchasing an additional 54 shares during the quarter. Summit Trail Advisors LLC’s holdings in Martin Marietta Materials were worth $802,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its stake in shares of Martin Marietta Materials by 14.8% in the 2nd quarter. Pacer Advisors Inc. now owns 6,079 shares of the construction company’s stock valued at $3,294,000 after purchasing an additional 783 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in Martin Marietta Materials by 3.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 12,419 shares of the construction company’s stock valued at $6,729,000 after buying an additional 400 shares during the period. Bridges Investment Management Inc. acquired a new position in Martin Marietta Materials in the second quarter valued at about $321,000. Canada Pension Plan Investment Board boosted its holdings in Martin Marietta Materials by 7.6% during the second quarter. Canada Pension Plan Investment Board now owns 96,670 shares of the construction company’s stock worth $52,376,000 after buying an additional 6,830 shares during the last quarter. Finally, Ieq Capital LLC grew its position in shares of Martin Marietta Materials by 3.3% during the 2nd quarter. Ieq Capital LLC now owns 3,604 shares of the construction company’s stock worth $1,952,000 after buying an additional 114 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Down 0.4 %

MLM stock opened at $546.29 on Monday. The business has a 50-day moving average of $540.85 and a 200-day moving average of $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 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. 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 (NYSE:MLM) last released 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). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the company earned $5.60 EPS. The company’s revenue was down 3.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a $0.79 dividend. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a yield of 0.58%. The ex-dividend date is Tuesday, September 3rd. Martin Marietta Materials’s payout ratio is presently 9.36%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stifel Nicolaus cut 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. Truist Financial reduced 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. Jefferies Financial Group boosted their price target on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, September 17th. Finally, Loop Capital decreased their target price 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. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus 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.