Brookstone Capital Management Grows Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Brookstone Capital Management raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 7.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,123 shares of the construction company’s stock after buying an additional 75 shares during the quarter. Brookstone Capital Management’s holdings in Martin Marietta Materials were worth $604,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC boosted its holdings in shares of Martin Marietta Materials by 32.1% in the 4th quarter. V Square Quantitative Management LLC now owns 1,133 shares of the construction company’s stock valued at $565,000 after purchasing an additional 275 shares during the last quarter. Syon Capital LLC boosted its holdings in Martin Marietta Materials by 16.7% in the fourth quarter. Syon Capital LLC now owns 916 shares of the construction company’s stock valued at $457,000 after acquiring an additional 131 shares during the last quarter. American International Group Inc. grew its position in Martin Marietta Materials by 2.1% during the fourth quarter. American International Group Inc. now owns 16,694 shares of the construction company’s stock valued at $8,329,000 after acquiring an additional 341 shares during the period. Wahed Invest LLC increased its stake in Martin Marietta Materials by 5.9% during the fourth quarter. Wahed Invest LLC now owns 1,051 shares of the construction company’s stock worth $524,000 after acquiring an additional 59 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Martin Marietta Materials by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock worth $3,577,268,000 after purchasing an additional 69,701 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

MLM opened at $544.90 on Monday. The company has a 50-day moving average of $530.36 and a 200-day moving average of $559.48. Martin Marietta Materials, Inc. has a 1-year low of $389.90 and a 1-year high of $626.67. The company has a market capitalization of $33.59 billion, a P/E ratio of 16.15, a PEG ratio of 3.68 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86.

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 the consensus estimate of $5.36 by ($0.60). The firm had revenue of $1.76 billion for 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 revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $5.60 earnings per share. Equities analysts expect that Martin Marietta Materials, Inc. will post 19.33 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a $0.79 dividend. The ex-dividend date of this dividend was 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 0.58%. Martin Marietta Materials’s payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MLM. Truist Financial decreased their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Jefferies Financial Group lowered their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price objective on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Finally, Morgan Stanley boosted their price objective on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average target price 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.