Portfolio Design Labs LLC Buys New Holdings in Martin Marietta Materials, Inc. $MLM

Portfolio Design Labs LLC bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the 2nd quarter, Holdings Channel.com reports. The firm bought 2,375 shares of the construction company’s stock, valued at approximately $1,370,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MLM. PCM Encore LLC purchased a new position in shares of Martin Marietta Materials in the second quarter valued at about $211,000. Vise Technologies Inc. bought a new stake in shares of Martin Marietta Materials in the second quarter worth about $1,096,000. Edmond DE Rothschild Holding S.A. purchased a new position in Martin Marietta Materials during the 2nd quarter valued at about $96,000. CM Wealth Advisors LLC bought a new position in Martin Marietta Materials during the 2nd quarter valued at approximately $321,000. Finally, Johnson Financial Group Inc. purchased a new stake in Martin Marietta Materials in the 2nd quarter worth approximately $42,000. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MLM shares. Berenberg Bank set a $556.00 target price on Martin Marietta Materials and gave the company a “hold” rating in a report on Tuesday, June 2nd. Wells Fargo & Company reduced their price target on shares of Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating on the stock in a research report on Friday, July 31st. Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Tuesday, July 28th. Royal Bank Of Canada lowered their target price on Martin Marietta Materials from $615.00 to $610.00 and set a “sector perform” rating for the company in a research note on Monday, August 3rd. Finally, UBS Group decreased their price objective on Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Ten analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $668.53.

Martin Marietta Materials Stock Down 1.8%

Martin Marietta Materials stock opened at $526.06 on Friday. Martin Marietta Materials, Inc. has a 12 month low of $522.19 and a 12 month high of $710.97. The stock has a fifty day simple moving average of $570.47 and a two-hundred day simple moving average of $596.46. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. The firm has a market cap of $31.60 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 2.31 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping analysts’ consensus estimates of $4.76 by $0.24. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the business posted $5.43 earnings per share. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. Equities analysts predict that Martin Marietta Materials, Inc. will post 19.07 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be paid a $0.84 dividend. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, September 1st. This represents a $3.36 annualized dividend and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 8.16%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.