Anchor Investment Management LLC Has $206,000 Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Anchor Investment Management LLC reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 11.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 381 shares of the construction company’s stock after selling 50 shares during the quarter. Anchor Investment Management LLC’s holdings in Martin Marietta Materials were worth $206,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MLM. Ables Iannone Moore & Associates Inc. acquired a new position in Martin Marietta Materials during the 4th quarter worth approximately $25,000. Newbridge Financial Services Group Inc. raised its stake in Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after buying an additional 37 shares during the period. Riverview Trust Co acquired a new position in Martin Marietta Materials during the 1st quarter worth approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in Martin Marietta Materials during the 1st quarter worth approximately $31,000. Finally, Fortitude Family Office LLC raised its stake 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 worth $34,000 after buying an additional 41 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Up 0.6 %

NYSE MLM opened at $524.11 on Friday. The business’s fifty day moving average is $535.46 and its 200-day moving average is $562.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. The stock has a market capitalization of $32.31 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 3.78 and a beta of 0.91. Martin Marietta Materials, Inc. has a one year low of $389.90 and a one year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing the consensus estimate 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 business’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $5.60 EPS. Equities research analysts predict that Martin Marietta Materials, Inc. will post 19.33 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a $0.79 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.16 annualized dividend and a yield of 0.60%. Martin Marietta Materials’s dividend payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MLM. Jefferies Financial Group upped their price target on Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Stifel Nicolaus lowered their price target on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Stephens cut their price objective 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. Finally, Loop Capital reduced their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.