AlTi Global Inc. Trims Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

AlTi Global Inc. trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,600 shares of the construction company’s stock after selling 147 shares during the quarter. AlTi Global Inc.’s holdings in Martin Marietta Materials were worth $867,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new stake in Martin Marietta Materials during the 4th quarter valued at about $25,000. Riverview Trust Co purchased a new stake in Martin Marietta Materials during the 1st quarter valued at about $26,000. Redmont Wealth Advisors LLC purchased a new stake in Martin Marietta Materials during the 1st quarter valued at about $31,000. Fortitude Family Office LLC grew its position in Martin Marietta Materials by 186.4% during the 2nd 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 last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in Martin Marietta Materials during the 1st quarter valued at about $41,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MLM has been the topic of several recent analyst reports. Jefferies Financial Group increased their price objective on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Stephens dropped their price target on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Morgan Stanley raised their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Loop Capital dropped their price target on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, Truist Financial dropped their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $629.82.

Martin Marietta Materials Trading Up 0.0 %

MLM stock opened at $536.01 on Thursday. The firm has a fifty day moving average price of $539.23 and a 200 day moving average price of $565.57. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. 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 firm has a market cap of $32.76 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 3.78 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 EPS 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 the consensus estimate of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.60 earnings per share. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a $0.79 dividend. The ex-dividend date of this dividend 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 dividend on an annualized basis and a yield of 0.59%. Martin Marietta Materials’s dividend payout ratio is 9.36%.

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.