Inspire Investing LLC cut its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 46.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,107 shares of the construction company’s stock after selling 1,813 shares during the period. Inspire Investing LLC’s holdings in Martin Marietta Materials were worth $1,142,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the stock. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth $25,000. Riverview Trust Co bought a new stake in shares of Martin Marietta Materials during the 1st quarter worth $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Martin Marietta Materials during the 1st quarter worth $31,000. Fortitude Family Office LLC raised its stake in shares of Martin Marietta Materials by 186.4% during the 2nd 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 stake in shares of Martin Marietta Materials during the 1st quarter worth $41,000. 95.04% of the stock is currently owned by institutional investors.
Martin Marietta Materials Stock Up 2.7 %
MLM stock opened at $548.56 on Friday. 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 $33.81 billion, a PE ratio of 16.25, a PEG ratio of 3.52 and a beta of 0.91. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month high of $626.67. The stock has a 50-day simple moving average of $541.01 and a two-hundred day simple moving average of $567.60.
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 of this dividend is Tuesday, September 3rd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s payout ratio is presently 9.36%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Stephens lowered their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research note 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 on the stock in a research note on Tuesday, August 13th. Morgan Stanley lifted their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Jefferies Financial Group boosted their price objective on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Stifel Nicolaus lowered their price objective on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $629.82.
Get Our Latest Stock Analysis on Martin Marietta Materials
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.
Read More
- Five stocks we like better than Martin Marietta Materials
- When to Sell a Stock for Profit or Loss
- Edgewise Therapeutics Soars 50%: Key Reasons Behind the Surge
- Where to Find Earnings Call Transcripts
- How the Fed’s Rate Cut Could Supercharge These 3 ETFs
- Unveiling The Power Of VWAP: A Key Indicator For Traders
- Microsoft Stock: 3 Reasons It’s Ready to Crush Q4
Receive News & Ratings for Martin Marietta Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials and related companies with MarketBeat.com's FREE daily email newsletter.