Riverview Trust Co Buys Shares of 43 Martin Marietta Materials, Inc. (NYSE:MLM)

Riverview Trust Co bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 43 shares of the construction company’s stock, valued at approximately $26,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ables Iannone Moore & Associates Inc. bought a new position in Martin Marietta Materials during the 4th quarter valued at about $25,000. Pinnacle Bancorp Inc. bought a new position in shares of Martin Marietta Materials in the 4th quarter worth approximately $26,000. Exchange Traded Concepts LLC bought a new position in shares of Martin Marietta Materials in the 4th quarter worth approximately $27,000. Benjamin Edwards Inc. lifted its stake in shares of Martin Marietta Materials by 78.8% in the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Martin Marietta Materials by 84.6% in the 3rd quarter. Covestor Ltd now owns 72 shares of the construction company’s stock worth $30,000 after purchasing an additional 33 shares during the period. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 0.1 %

Shares of MLM opened at $535.67 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67. The company has a 50 day simple moving average of $575.85 and a two-hundred day simple moving average of $555.82. The firm has a market cap of $33.02 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 2.35 and a beta of 0.93.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the firm posted $2.16 EPS. The company’s revenue was down 7.6% on a year-over-year basis. On average, equities analysts expect that Martin Marietta Materials, Inc. will post 23.29 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 8.77%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MLM. Citigroup increased their price objective on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. The Goldman Sachs Group increased their price objective on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Truist Financial increased their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, Wolfe Research lowered shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $610.27.

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.