Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by Graypoint LLC

Graypoint LLC grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,501 shares of the construction company’s stock after purchasing an additional 43 shares during the quarter. Graypoint LLC’s holdings in Martin Marietta Materials were worth $808,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Forte Capital LLC ADV acquired a new position in shares of Martin Marietta Materials during the third quarter worth about $557,000. M&G PLC lifted its stake in shares of Martin Marietta Materials by 5.2% during the third quarter. M&G PLC now owns 66,840 shares of the construction company’s stock worth $35,960,000 after purchasing an additional 3,311 shares in the last quarter. Marks Group Wealth Management Inc lifted its stake in shares of Martin Marietta Materials by 55.7% during the third quarter. Marks Group Wealth Management Inc now owns 707 shares of the construction company’s stock worth $381,000 after purchasing an additional 253 shares in the last quarter. Heritage Investors Management Corp lifted its stake in shares of Martin Marietta Materials by 0.4% during the third quarter. Heritage Investors Management Corp now owns 63,437 shares of the construction company’s stock worth $34,145,000 after purchasing an additional 247 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in shares of Martin Marietta Materials by 1.1% during the third quarter. Amalgamated Bank now owns 12,625 shares of the construction company’s stock worth $6,795,000 after purchasing an additional 139 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

MLM has been the topic of a number of recent research reports. Truist Financial reduced their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Morgan Stanley lifted their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. UBS Group started coverage on Martin Marietta Materials in a research report on Thursday. They set a “buy” rating and a $730.00 target price on the stock. StockNews.com lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. Finally, Loop Capital lifted their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average target price of $634.85.

Martin Marietta Materials Stock Down 0.0 %

Shares of Martin Marietta Materials stock opened at $617.16 on Friday. The firm has a market cap of $37.72 billion, a P/E ratio of 19.23, a P/E/G ratio of 3.86 and a beta of 0.90. The business has a 50-day moving average price of $547.35 and a 200 day moving average price of $556.58. Martin Marietta Materials, Inc. has a fifty-two week low of $444.14 and a fifty-two week high of $633.23. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43.

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 the consensus estimate of $6.41 by ($0.50). The company 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 for the quarter was down 5.3% compared to the same quarter last year. During the same period last year, the company posted $6.94 earnings per share. On average, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 17.95 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.79 per share. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a dividend yield of 0.51%. Martin Marietta Materials’s dividend payout ratio is 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.