Victory Capital Management Inc. Acquires 1,637 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Victory Capital Management Inc. raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,785 shares of the construction company’s stock after purchasing an additional 1,637 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Martin Marietta Materials worth $19,388,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MLM. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Martin Marietta Materials in the 4th quarter valued at approximately $25,000. Riverview Trust Co acquired a new position in shares of Martin Marietta Materials in the 1st quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials in the 1st quarter valued at approximately $31,000. Fortitude Family Office LLC raised its position in shares of Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after buying an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Martin Marietta Materials in the 1st quarter valued at approximately $41,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 1.5 %

Shares of NYSE MLM opened at $515.33 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week high of $626.67. The firm has a 50 day moving average price of $542.00 and a two-hundred day moving average price of $569.22. The stock has a market cap of $31.76 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 3.43 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the company posted $5.60 earnings per share. The company’s revenue was down 3.1% compared to the same quarter last year. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.59 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a $0.79 dividend. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is currently 9.36%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MLM. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. Stephens dropped their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Morgan Stanley upped their price objective on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Stifel Nicolaus lowered their price objective on shares of 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, Jefferies Financial Group upped their price objective on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average price target of $629.82.

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.