Townsquare Capital LLC Grows Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Townsquare Capital LLC raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 16.3% during the third quarter, HoldingsChannel reports. The firm owned 3,650 shares of the construction company’s stock after purchasing an additional 511 shares during the period. Townsquare Capital LLC’s holdings in Martin Marietta Materials were worth $1,965,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. FMR LLC boosted its stake in shares of Martin Marietta Materials by 15.3% during the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after purchasing an additional 334,605 shares in the last quarter. Principal Financial Group Inc. boosted its position in Martin Marietta Materials by 76.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after acquiring an additional 704,460 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Martin Marietta Materials by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock valued at $337,903,000 after acquiring an additional 12,759 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of Martin Marietta Materials by 54.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after acquiring an additional 164,503 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Martin Marietta Materials by 2.6% during 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 purchasing an additional 11,749 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on MLM shares. Truist Financial reduced their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Stephens decreased their price objective 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. Finally, Jefferies Financial Group lowered their price objective on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued 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 a consensus price target of $644.46.

Martin Marietta Materials Stock Up 0.7 %

Shares of MLM stock opened at $600.00 on Monday. Martin Marietta Materials, Inc. has a fifty-two week low of $456.83 and a fifty-two week high of $633.23. The firm has a market capitalization of $36.67 billion, a PE ratio of 18.70, a P/E/G ratio of 4.07 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. The stock’s 50-day simple moving average is $571.19 and its 200-day simple moving average is $555.83.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company posted $6.94 EPS. Martin Marietta Materials’s quarterly revenue was down 5.3% compared to the same quarter last year. Equities analysts expect that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a dividend of $0.79 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.53%. 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.