State of Wyoming Makes New $1.02 Million Investment in Martin Marietta Materials, Inc. $MLM

State of Wyoming purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,765 shares of the construction company’s stock, valued at approximately $1,018,000.

Several other institutional investors have also modified their holdings of the business. CoreCap Advisors LLC increased its stake in Martin Marietta Materials by 370.0% during the 2nd quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock worth $27,000 after purchasing an additional 37 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in Martin Marietta Materials by 67.9% during the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after buying an additional 19 shares during the period. Garton & Associates Financial Advisors LLC bought a new position in Martin Marietta Materials in the fourth quarter valued at approximately $31,000. Reflection Asset Management bought a new position in Martin Marietta Materials in the fourth quarter valued at approximately $35,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Martin Marietta Materials in the second quarter valued at approximately $37,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 0.8%

NYSE:MLM opened at $549.01 on Friday. Martin Marietta Materials, Inc. has a twelve month low of $523.48 and a twelve month high of $710.97. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $572.88 and a two-hundred day moving average price of $600.18. The company has a market cap of $32.98 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 2.34 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the business earned $5.43 EPS. The business’s quarterly revenue was up 21.0% on a year-over-year basis. As a group, analysts expect that Martin Marietta Materials, Inc. will post 19.07 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

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

Analyst Ratings Changes

Several brokerages have recently issued reports on MLM. Weiss Ratings raised shares of Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, June 25th. Citigroup cut their price objective on shares of Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Royal Bank Of Canada cut their price objective on shares of Martin Marietta Materials from $615.00 to $610.00 and set a “sector perform” rating on the stock in a research report on Monday, August 3rd. Raymond James Financial set a $660.00 target price on shares of Martin Marietta Materials in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. lowered their target price on Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus target price of $668.53.

About Martin Marietta Materials

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.