Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by Private Advisor Group LLC

Private Advisor Group LLC grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,227 shares of the construction company’s stock after purchasing an additional 25 shares during the quarter. Private Advisor Group LLC’s holdings in Martin Marietta Materials were worth $754,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. acquired a new position in Martin Marietta Materials during the 4th quarter valued at about $25,000. Pinnacle Bancorp Inc. acquired a new position in shares of Martin Marietta Materials in the 4th quarter valued at about $26,000. Riverview Trust Co acquired a new position in shares of Martin Marietta Materials in the first quarter worth $26,000. Exchange Traded Concepts LLC purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $27,000. Finally, Benjamin Edwards Inc. grew its position in Martin Marietta Materials by 78.8% in the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after acquiring an additional 26 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. StockNews.com lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. The Goldman Sachs Group lifted their price objective on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Citigroup dropped their target price on shares of Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating for the company in a research report on Thursday. Stifel Nicolaus cut their price objective on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Truist Financial upped their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.08.

Martin Marietta Materials Price Performance

MLM opened at $554.52 on Friday. The stock has a market cap of $34.18 billion, a P/E ratio of 16.43, a P/E/G ratio of 2.42 and a beta of 0.91. Martin Marietta Materials, Inc. has a 12 month low of $389.90 and a 12 month high of $626.67. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $563.23 and a 200 day simple moving average of $559.51.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.05. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.16 earnings per share. On average, research analysts expect that Martin Marietta Materials, Inc. will post 23.03 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, June 3rd. Martin Marietta Materials’s payout ratio is 8.77%.

About Martin Marietta Materials

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.