Fifth Third Wealth Advisors LLC acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) 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 – Get Free Report) 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.
Featured Articles
- Five stocks we like better than Martin Marietta Materials
- What Are Dividend Challengers?
- Target Hits the Mark: Q2 Earnings Exceed Expectations
- What is Forex and How Does it Work?
- Is Tesla’s Rebound Just Starting? Why You Should Consider Buying
- Best Stocks Under $10.00
- Stanley Druckenmiller’s Latest Bet: MELI—Should You Follow Suit?
Want to see what other hedge funds are holding MLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Martin Marietta Materials, Inc. (NYSE:MLM – Free Report).
Receive News & Ratings for Martin Marietta Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials and related companies with MarketBeat.com's FREE daily email newsletter.