Martin Marietta Materials, Inc. (NYSE:MLM) Stock Position Raised by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 42.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,911 shares of the construction company’s stock after acquiring an additional 568 shares during the period. Banque Cantonale Vaudoise’s holdings in Martin Marietta Materials were worth $1,035,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MLM. Ameritas Advisory Services LLC grew its position in shares of Martin Marietta Materials by 2.8% during the second quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock worth $360,000 after acquiring an additional 18 shares during the last quarter. Mather Group LLC. boosted its stake in Martin Marietta Materials by 13.6% during the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after purchasing an additional 20 shares during the period. TFG Advisers LLC grew its position in Martin Marietta Materials by 3.7% in the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock worth $300,000 after purchasing an additional 20 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Martin Marietta Materials by 1.8% in the fourth quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock valued at $584,000 after purchasing an additional 21 shares during the period. Finally, Pitcairn Co. raised its holdings in shares of Martin Marietta Materials by 5.0% during the first quarter. Pitcairn Co. now owns 442 shares of the construction company’s stock valued at $271,000 after buying an additional 21 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MLM has been the subject of a number of recent analyst reports. Morgan Stanley increased their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Truist Financial lowered their price objective 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 cut their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Stifel Nicolaus decreased their price target on 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. Finally, Jefferies Financial Group boosted their price objective on Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $629.82.

Martin Marietta Materials Price Performance

Shares of NYSE MLM traded up $10.17 during mid-day trading on Friday, reaching $534.16. The company had a trading volume of 538,800 shares, compared to its average volume of 499,001. Martin Marietta Materials, Inc. has a 1-year low of $389.90 and a 1-year high of $626.67. The stock has a market cap of $32.65 billion, a PE ratio of 15.83, a P/E/G ratio of 3.57 and a beta of 0.91. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $545.93 and a two-hundred day moving average price of $570.80.

Martin Marietta Materials (NYSE:MLM) last issued 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). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the business posted $5.60 EPS. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post 20.01 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

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