Global Retirement Partners LLC Buys 164 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Global Retirement Partners LLC lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 24.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 844 shares of the construction company’s stock after acquiring an additional 164 shares during the quarter. Global Retirement Partners LLC’s holdings in Martin Marietta Materials were worth $454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Riverview Trust Co bought a new position in shares of Martin Marietta Materials during the first quarter worth about $26,000. Newbridge Financial Services Group Inc. increased its holdings in Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after purchasing an additional 37 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in Martin Marietta Materials in the first quarter worth approximately $31,000. Asset Dedication LLC increased its holdings in Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares in the last quarter. Finally, Fortitude Family Office LLC increased its holdings in Martin Marietta Materials by 186.4% in 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 in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Trading Down 0.6 %

MLM opened at $577.53 on Tuesday. The business has a 50 day simple moving average of $534.05 and a two-hundred day simple moving average of $557.48. 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 one year low of $389.90 and a one year high of $626.67. The firm has a market capitalization of $35.60 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 3.68 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the business earned $5.60 earnings per share. Analysts predict that Martin Marietta Materials, Inc. will post 19.33 EPS for the current year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $0.79 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.36%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MLM. Truist Financial lowered their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Stephens lowered their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Loop Capital lowered their target price on 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 reduced their price objective on 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. Finally, 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $619.36.

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.