Aptus Capital Advisors LLC Acquires 36 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Aptus Capital Advisors LLC grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 583 shares of the construction company’s stock after buying an additional 36 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Martin Marietta Materials were worth $314,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Newbridge Financial Services Group Inc. increased its position in Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after acquiring an additional 37 shares during the period. Asset Dedication LLC increased its position in shares of Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares during the period. First Personal Financial Services bought a new position in Martin Marietta Materials during the third quarter worth $33,000. Fortitude Family Office LLC boosted its stake in Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after acquiring an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new position in Martin Marietta Materials during the first quarter worth $41,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MLM. JPMorgan Chase & Co. cut their target price on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Truist Financial dropped their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Citigroup dropped their price target 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. UBS Group assumed coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 price objective for the company. Finally, Jefferies Financial Group reduced their price objective on shares of 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. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $634.85.

Martin Marietta Materials Trading Down 0.8 %

Shares of MLM opened at $583.03 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. Martin Marietta Materials, Inc. has a 1 year low of $451.37 and a 1 year high of $633.23. The company has a 50 day simple moving average of $557.57 and a two-hundred day simple moving average of $556.88. The firm has a market cap of $35.63 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 4.04 and a beta of 0.90.

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

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a $0.79 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.54%. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

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.