HBK Sorce Advisory LLC Purchases 26 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

HBK Sorce Advisory LLC raised its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 431 shares of the construction company’s stock after acquiring an additional 26 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Martin Marietta Materials were worth $234,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth approximately $25,000. Riverview Trust Co acquired a new stake in Martin Marietta Materials in the first quarter worth $26,000. Redmont Wealth Advisors LLC bought a new stake in Martin Marietta Materials in the first quarter valued at $31,000. Fortitude Family Office LLC raised its holdings in shares of 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 purchasing an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Martin Marietta Materials during the first quarter valued at about $41,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 1.0 %

Shares of MLM stock opened at $520.68 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86. The company has a market capitalization of $32.09 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 3.52 and a beta of 0.91. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week high of $626.67. The company has a 50-day simple moving average of $541.32 and a two-hundred day simple moving average of $568.70.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.36 by ($0.60). The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company earned $5.60 earnings per share. Research analysts anticipate that Martin Marietta Materials, Inc. will post 19.33 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm 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 dividend of $0.79 per share. The ex-dividend date is 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 0.61%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.36%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MLM. Morgan Stanley upped their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Stephens cut their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Stifel Nicolaus dropped their price objective on shares of 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. Finally, Jefferies Financial Group boosted their target price on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target 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.