Fidelis Capital Partners LLC Buys 273 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Fidelis Capital Partners LLC grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 35.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,047 shares of the construction company’s stock after purchasing an additional 273 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Martin Marietta Materials were worth $564,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MLM. Global Assets Advisory LLC bought a new position in Martin Marietta Materials in the 1st quarter valued at about $22,265,000. Cambridge Investment Research Advisors Inc. lifted its holdings in Martin Marietta Materials by 25.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 8,562 shares of the construction company’s stock worth $4,272,000 after purchasing an additional 1,728 shares during the last quarter. Brevan Howard Capital Management LP increased its position in Martin Marietta Materials by 49.7% during the 4th quarter. Brevan Howard Capital Management LP now owns 5,672 shares of the construction company’s stock worth $2,830,000 after buying an additional 1,882 shares during the period. Vanguard Group Inc. boosted its position in shares of Martin Marietta Materials by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after acquiring an additional 69,701 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Martin Marietta Materials by 182.5% in the first quarter. BNP Paribas Financial Markets now owns 73,135 shares of the construction company’s stock valued at $44,901,000 after acquiring an additional 47,250 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 0.4 %

MLM opened at $546.29 on Monday. The company has a market cap of $33.67 billion, a P/E ratio of 16.19, a PEG ratio of 3.52 and a beta of 0.91. 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 company’s 50 day moving average is $540.85 and its 200-day moving average is $566.68. Martin Marietta Materials, Inc. has a 1-year low of $389.90 and a 1-year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results 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). The company had revenue of $1.76 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.60 EPS. Equities research 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. Shareholders 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 is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a yield of 0.58%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.36%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MLM shares. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, September 17th. Loop Capital dropped their price target on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Truist Financial reduced their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Stephens dropped their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Finally, Stifel Nicolaus reduced 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. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $629.82.

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.