Prospera Financial Services Inc Purchases 296 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Prospera Financial Services Inc lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 55.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 833 shares of the construction company’s stock after acquiring an additional 296 shares during the period. Prospera Financial Services Inc’s holdings in Martin Marietta Materials were worth $449,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Kovack Advisors Inc. purchased a new stake in Martin Marietta Materials during the 3rd quarter valued at $734,000. Peak Financial Advisors LLC bought a new stake in Martin Marietta Materials in the 2nd quarter worth about $2,710,000. Bank of New York Mellon Corp raised its position in Martin Marietta Materials by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after buying an additional 11,749 shares during the last quarter. ING Groep NV bought a new position in Martin Marietta Materials during the 3rd quarter valued at about $1,601,000. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 27.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,278 shares of the construction company’s stock valued at $3,943,000 after acquiring an additional 1,549 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Citigroup lowered their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Truist Financial reduced their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Jefferies Financial Group cut their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Stephens lowered their price objective 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, BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $634.85.

Martin Marietta Materials Trading Up 1.2 %

Martin Marietta Materials stock opened at $597.81 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The firm’s 50 day moving average price is $565.21 and its 200-day moving average price is $556.75. Martin Marietta Materials, Inc. has a 1 year low of $456.83 and a 1 year high of $633.23. The stock has a market cap of $36.54 billion, a P/E ratio of 18.63, a PEG ratio of 3.95 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.94 EPS. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

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.