Federated Hermes Inc. Has $50.43 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Federated Hermes Inc. increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 93,072 shares of the construction company’s stock after acquiring an additional 2,916 shares during the period. Federated Hermes Inc. owned about 0.15% of Martin Marietta Materials worth $50,426,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. bought a new position in shares of Martin Marietta Materials during the fourth quarter valued at $25,000. Riverview Trust Co bought a new stake in shares of Martin Marietta Materials in the 1st quarter valued at $26,000. Redmont Wealth Advisors LLC bought a new position in Martin Marietta Materials during the first quarter worth $31,000. Fortitude Family Office LLC boosted its position 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 valued at $34,000 after acquiring an additional 41 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in Martin Marietta Materials during the 1st quarter worth about $41,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Price Performance

MLM stock opened at $520.68 on Friday. The firm has a 50 day moving average of $541.32 and a 200-day moving average of $568.62. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $32.09 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91. Martin Marietta Materials, Inc. has a 12 month low of $389.90 and a 12 month high of $626.67.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the business posted $5.60 earnings per share. The business’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

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

Wall Street Analyst Weigh In

MLM has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Stifel Nicolaus dropped their price target on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Morgan Stanley raised 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. Stephens dropped their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Finally, StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $629.82.

Martin Marietta Materials Company 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.