Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by Fortitude Family Office LLC

Fortitude Family Office LLC increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 186.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63 shares of the construction company’s stock after purchasing an additional 41 shares during the quarter. Fortitude Family Office LLC’s holdings in Martin Marietta Materials were worth $34,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Global Assets Advisory LLC purchased a new stake in shares of Martin Marietta Materials during the first quarter worth approximately $22,265,000. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Martin Marietta Materials by 25.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 8,562 shares of the construction company’s stock valued at $4,272,000 after buying an additional 1,728 shares during the period. Brevan Howard Capital Management LP increased its holdings in Martin Marietta Materials by 49.7% during the 4th quarter. Brevan Howard Capital Management LP now owns 5,672 shares of the construction company’s stock worth $2,830,000 after purchasing an additional 1,882 shares during the period. Simplicity Solutions LLC increased its holdings in Martin Marietta Materials by 166.1% during the 4th quarter. Simplicity Solutions LLC now owns 2,725 shares of the construction company’s stock worth $1,360,000 after purchasing an additional 1,701 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Martin Marietta Materials by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after acquiring an additional 69,701 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MLM shares. Loop Capital dropped their price objective on Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Stifel Nicolaus dropped their price objective on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. StockNews.com downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Citigroup decreased their target price on Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Finally, The Goldman Sachs Group upped their target price on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average target price of $628.91.

Martin Marietta Materials Price Performance

NYSE MLM traded up $0.69 during mid-day trading on Thursday, hitting $538.98. The stock had a trading volume of 829,635 shares, compared to its average volume of 442,879. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week high of $626.67. The company has a market cap of $33.22 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 3.12 and a beta of 0.91. The company has a 50 day simple moving average of $554.20 and a 200 day simple moving average of $568.52. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.14 by ($1.38). Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business earned $5.60 EPS. Martin Marietta Materials’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities analysts forecast that Martin Marietta Materials, Inc. will post 22.86 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Monday, June 3rd. Martin Marietta Materials’s payout ratio is currently 8.77%.

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.