Ensign Peak Advisors Inc Sells 3,200 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Ensign Peak Advisors Inc reduced its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 11.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,895 shares of the construction company’s stock after selling 3,200 shares during the period. Ensign Peak Advisors Inc’s holdings in Martin Marietta Materials were worth $14,030,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Riverview Trust Co acquired a new position in shares of Martin Marietta Materials in the 1st quarter valued at $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in Martin Marietta Materials in the fourth quarter valued at about $25,000. Redmont Wealth Advisors LLC acquired a new position in Martin Marietta Materials in the first quarter valued at about $31,000. Fortitude Family Office LLC boosted its holdings in Martin Marietta Materials by 186.4% during the second 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 shares of Martin Marietta Materials during the 1st quarter worth about $41,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Down 0.2 %

MLM stock opened at $545.40 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. The stock has a market capitalization of $33.62 billion, a P/E ratio of 16.16, a P/E/G ratio of 3.52 and a beta of 0.91. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The business has a 50-day moving average of $540.62 and a 200-day moving average of $566.21.

Martin Marietta Materials (NYSE:MLM) last released its quarterly 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 firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company earned $5.60 EPS. On average, sell-side 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 will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a yield of 0.58%. Martin Marietta Materials’s payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MLM. Morgan Stanley increased their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Truist Financial cut their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Loop Capital reduced their price target on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, Jefferies Financial Group lifted their target price on Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and an average target price of $629.82.

About Martin Marietta Materials

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.