Atomi Financial Group Inc. Buys New Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Atomi Financial Group Inc. bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 693 shares of the construction company’s stock, valued at approximately $373,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. bought a new position in Martin Marietta Materials in the 4th quarter valued at about $25,000. Newbridge Financial Services Group Inc. lifted its holdings in Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after acquiring an additional 37 shares during the last quarter. Riverview Trust Co acquired a new stake in Martin Marietta Materials in the 1st quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new stake in Martin Marietta Materials in the 1st quarter valued at about $31,000. Finally, Fortitude Family Office LLC lifted its holdings in Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after acquiring an additional 41 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

NYSE MLM opened at $544.90 on Friday. The company has a 50 day simple moving average of $530.83 and a 200-day simple moving average of $560.25. 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 firm has a market capitalization of $33.30 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 3.68 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.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (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 analysts’ expectations of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. Martin Marietta Materials’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the company earned $5.60 earnings per share. 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 business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.58%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is 9.60%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MLM shares. Loop Capital cut 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 report on Tuesday, August 13th. Citigroup cut their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. Jefferies Financial Group cut their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday. Stifel Nicolaus cut their price target on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $619.36.

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.