PNC Financial Services Group Inc. Has $20.34 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

PNC Financial Services Group Inc. raised its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 37,797 shares of the construction company’s stock after acquiring an additional 356 shares during the period. PNC Financial Services Group Inc. owned approximately 0.06% of Martin Marietta Materials worth $20,344,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. grew 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 purchasing an additional 37 shares during the period. Asset Dedication LLC grew its holdings 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 valued at $30,000 after buying an additional 52 shares during the last quarter. First Personal Financial Services bought a new stake in shares of Martin Marietta Materials during the third quarter worth about $33,000. Fortitude Family Office LLC raised its holdings 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 worth $34,000 after acquiring an additional 41 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Martin Marietta Materials in the 1st quarter worth about $41,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MLM. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Stephens decreased their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. UBS Group began coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 price objective on the stock. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Loop Capital increased their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Four research 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $634.85.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $591.87 on Friday. Martin Marietta Materials, Inc. has a 52 week low of $456.83 and a 52 week high of $633.23. The firm’s 50-day simple moving average is $562.13 and its two-hundred day simple moving average is $556.52. The firm has a market cap of $36.18 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 3.89 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34.

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

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be issued a $0.79 dividend. 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 (DPR) is currently 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.