XTX Topco Ltd Purchases 1,054 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

XTX Topco Ltd grew its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 66.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,641 shares of the construction company’s stock after buying an additional 1,054 shares during the period. XTX Topco Ltd’s holdings in Martin Marietta Materials were worth $1,431,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Riverview Trust Co acquired a new stake in Martin Marietta Materials in the first quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Martin Marietta Materials during the 4th quarter valued at $25,000. Redmont Wealth Advisors LLC purchased a new position in Martin Marietta Materials during the 1st quarter worth $31,000. Fortitude Family Office LLC grew its stake in 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 buying an additional 41 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in Martin Marietta Materials during the 1st quarter valued at about $41,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MLM shares. Citigroup cut their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Truist Financial cut 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 note on Friday, August 9th. 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. Jefferies Financial Group boosted their price objective 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. Finally, Stifel Nicolaus cut their target price on 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. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently 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 Friday. The firm has a market capitalization of $33.67 billion, a P/E ratio of 16.19, a PEG ratio of 3.52 and a beta of 0.91. The stock has a 50-day simple moving average of $540.85 and a two-hundred day simple moving average of $567.21. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the prior year, the business posted $5.60 earnings per share. The firm’s revenue was down 3.1% compared to the same quarter last year. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a $0.79 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Tuesday, September 3rd. Martin Marietta Materials’s 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.