Whittier Trust Co. of Nevada Inc. Grows Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Whittier Trust Co. of Nevada Inc. increased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,089 shares of the construction company’s stock after acquiring an additional 102 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Martin Marietta Materials were worth $3,277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Whittier Trust Co. increased its position in Martin Marietta Materials by 7.7% during the third quarter. Whittier Trust Co. now owns 14,653 shares of the construction company’s stock valued at $7,887,000 after acquiring an additional 1,045 shares during the last quarter. Compass Ion Advisors LLC grew its position in Martin Marietta Materials by 9.3% in the 3rd quarter. Compass Ion Advisors LLC now owns 483 shares of the construction company’s stock valued at $260,000 after acquiring an additional 41 shares during the last quarter. OLD National Bancorp IN lifted its position in shares of Martin Marietta Materials by 20.9% during the third quarter. OLD National Bancorp IN now owns 462 shares of the construction company’s stock worth $249,000 after purchasing an additional 80 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Martin Marietta Materials by 223.0% in the third quarter. Blue Trust Inc. now owns 646 shares of the construction company’s stock worth $350,000 after purchasing an additional 446 shares during the last quarter. Finally, Net Worth Advisory Group purchased a new position in Martin Marietta Materials in the 3rd quarter worth about $511,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

NYSE MLM opened at $577.53 on Tuesday. The stock’s fifty day moving average price is $534.05 and its 200 day moving average price is $557.48. 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 company has a market cap of $35.60 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 3.68 and a beta of 0.91. 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 announced its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the business posted $5.60 earnings per share. Martin Marietta Materials’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a $0.79 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.55%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio is 9.36%.

Analyst Ratings Changes

A number of equities analysts have commented on MLM shares. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Stifel Nicolaus dropped their target price on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their price objective on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, Truist Financial cut their price target on 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 issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus price target of $619.36.

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.