Fifth Third Wealth Advisors LLC Takes $323,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Fifth Third Wealth Advisors LLC acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 596 shares of the construction company’s stock, valued at approximately $323,000.

A number of other large investors also recently modified their holdings of MLM. International Assets Investment Management LLC boosted its position in shares of Martin Marietta Materials by 49,790.8% in the fourth quarter. International Assets Investment Management LLC now owns 59,869 shares of the construction company’s stock valued at $29,869,000 after acquiring an additional 59,749 shares during the period. Greenleaf Trust boosted its position in shares of Martin Marietta Materials by 11.3% in the fourth quarter. Greenleaf Trust now owns 1,109 shares of the construction company’s stock valued at $553,000 after acquiring an additional 113 shares during the period. abrdn plc boosted its position in shares of Martin Marietta Materials by 49.5% in the fourth quarter. abrdn plc now owns 39,469 shares of the construction company’s stock valued at $19,691,000 after acquiring an additional 13,071 shares during the period. Lindbrook Capital LLC raised its stake in Martin Marietta Materials by 112.9% in the fourth quarter. Lindbrook Capital LLC now owns 149 shares of the construction company’s stock valued at $74,000 after purchasing an additional 79 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Martin Marietta Materials by 30.4% in the fourth quarter. Signaturefd LLC now owns 823 shares of the construction company’s stock valued at $411,000 after purchasing an additional 192 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MLM. Truist Financial lowered 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 research note on Friday, August 9th. Citigroup lowered their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. 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 research note on Tuesday, August 13th. Stephens lowered their target price on shares of 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. Finally, StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $624.18.

Martin Marietta Materials Trading Up 0.6 %

Shares of NYSE MLM traded up $3.30 during mid-day trading on Wednesday, hitting $539.70. The stock had a trading volume of 250,666 shares, compared to its average volume of 443,193. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67. The business has a 50 day moving average price of $549.45 and a two-hundred day moving average price of $570.28. The firm has a market cap of $33.27 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 3.12 and a beta of 0.91.

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 the consensus estimate of $5.36 by ($0.60). The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.83 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $5.60 EPS. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post 22.86 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a $0.79 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $3.16 annualized dividend and a yield of 0.59%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s payout ratio is 9.36%.

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.