GAMMA Investing LLC Acquires 190 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

GAMMA Investing LLC increased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 19.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,163 shares of the construction company’s stock after purchasing an additional 190 shares during the period. GAMMA Investing LLC’s holdings in Martin Marietta Materials were worth $626,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Global Assets Advisory LLC bought a new stake in Martin Marietta Materials in the first quarter worth $22,265,000. Brevan Howard Capital Management LP boosted its holdings in Martin Marietta Materials by 49.7% in the fourth quarter. Brevan Howard Capital Management LP now owns 5,672 shares of the construction company’s stock worth $2,830,000 after purchasing an additional 1,882 shares in the last quarter. Vanguard Group Inc. boosted 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 worth $3,577,268,000 after purchasing an additional 69,701 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Martin Marietta Materials by 182.5% in the first quarter. BNP Paribas Financial Markets now owns 73,135 shares of the construction company’s stock worth $44,901,000 after purchasing an additional 47,250 shares in the last quarter. Finally, Peak Financial Advisors LLC bought a new stake in Martin Marietta Materials in the second quarter worth $2,710,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $524.37 on Wednesday. Martin Marietta Materials, Inc. has a 12-month low of $389.90 and a 12-month 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. The firm has a market capitalization of $32.32 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 3.78 and a beta of 0.91. The firm has a 50-day moving average price of $533.08 and a 200 day moving average price of $560.63.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the company earned $5.60 EPS. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. Research 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 was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.60%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio is 9.36%.

Analysts Set New Price Targets

A number of research firms have issued reports on MLM. Loop Capital decreased their price target on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Stifel Nicolaus decreased their price target on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Stephens decreased their price target on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Citigroup decreased their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Truist Financial decreased their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $629.82.

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.