Private Advisor Group LLC Acquires 249 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Private Advisor Group LLC grew its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 20.6% in the third quarter, HoldingsChannel reports. The fund owned 1,458 shares of the construction company’s stock after buying an additional 249 shares during the period. Private Advisor Group LLC’s holdings in Martin Marietta Materials were worth $785,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ameritas Advisory Services LLC raised its stake in Martin Marietta Materials by 2.8% in the second quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock valued at $360,000 after purchasing an additional 18 shares in the last quarter. Inspire Investing LLC raised its stake in Martin Marietta Materials by 0.9% in the third quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock valued at $1,144,000 after purchasing an additional 19 shares in the last quarter. Mather Group LLC. raised its stake in Martin Marietta Materials by 13.6% in the second quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after purchasing an additional 20 shares in the last quarter. TFG Advisers LLC raised its stake in Martin Marietta Materials by 3.7% in the second quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after purchasing an additional 20 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co raised its stake in Martin Marietta Materials by 3.0% in the second quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock valued at $368,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Jefferies Financial Group dropped their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Barclays boosted their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Morgan Stanley boosted their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Truist Financial lowered their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Citigroup lowered their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. 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 given 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 $626.92.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $580.14 on Friday. The business has a 50 day moving average of $541.37 and a 200-day moving average of $555.98. Martin Marietta Materials, Inc. has a 1 year low of $438.53 and a 1 year high of $626.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 0.94. The company has a market capitalization of $35.46 billion, a P/E ratio of 18.08, a P/E/G ratio of 5.04 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company earned $6.94 earnings per share. The business’s revenue was down 5.3% on a year-over-year basis. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 18.48 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.54%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

About Martin Marietta Materials

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.