493 Shares in Martin Marietta Materials, Inc. (NYSE:MLM) Bought by Waldron Private Wealth LLC

Waldron Private Wealth LLC bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 493 shares of the construction company’s stock, valued at approximately $267,000.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Martin Marietta Materials by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock worth $3,577,268,000 after buying an additional 69,701 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Martin Marietta Materials by 114.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after acquiring an additional 523,038 shares in the last quarter. Norges Bank acquired a new stake in shares of Martin Marietta Materials in the 4th quarter worth approximately $308,705,000. Dimensional Fund Advisors LP increased its stake in Martin Marietta Materials by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 615,396 shares of the construction company’s stock valued at $307,026,000 after purchasing an additional 27,775 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Martin Marietta Materials by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock valued at $252,318,000 after purchasing an additional 11,749 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Up 1.9 %

Shares of Martin Marietta Materials stock opened at $534.16 on Monday. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The business’s fifty day moving average is $545.93 and its two-hundred day moving average is $571.02. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. The firm has a market cap of $32.65 billion, a PE ratio of 15.83, a P/E/G ratio of 3.57 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.60). The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $5.60 earnings per share. Analysts anticipate that Martin Marietta Materials, Inc. will post 20.01 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.59%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date is Tuesday, September 3rd. Martin Marietta Materials’s payout ratio is presently 8.77%.

Analysts Set New Price Targets

MLM has been the topic of several research reports. Stifel Nicolaus lowered their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Loop Capital lowered their price objective on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Stephens cut their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Jefferies Financial Group upped their price target on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, 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 note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $629.82.

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.