Beck Capital Management LLC Has $2.07 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Beck Capital Management LLC grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,821 shares of the construction company’s stock after purchasing an additional 83 shares during the period. Beck Capital Management LLC’s holdings in Martin Marietta Materials were worth $2,070,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Martin Marietta Materials by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock worth $3,577,268,000 after buying an additional 69,701 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Martin Marietta Materials by 114.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after acquiring an additional 523,038 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Martin Marietta Materials by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock worth $337,903,000 after purchasing an additional 12,759 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Martin Marietta Materials by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after purchasing an additional 11,749 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of Martin Marietta Materials by 1.0% in the 2nd quarter. William Blair Investment Management LLC now owns 374,811 shares of the construction company’s stock worth $203,073,000 after purchasing an additional 3,598 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $546.29 on Monday. The company has a market capitalization of $33.67 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91. The company’s 50-day moving average is $540.85 and its 200 day moving average is $566.68. 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 released its 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). The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company earned $5.60 earnings per share. On average, equities research 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. Shareholders of record on Tuesday, September 3rd will be paid a $0.79 dividend. The ex-dividend date is Tuesday, September 3rd. 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 dividend yield of 0.58%. Martin Marietta Materials’s payout ratio is presently 9.36%.

Analysts Set New Price Targets

A number of analysts have commented on MLM shares. 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 research note on Wednesday, July 3rd. Loop Capital lowered their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Jefferies Financial Group lifted their price target 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. Truist Financial lowered their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus price target 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.