D.A. Davidson & CO. Has $6.46 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

D.A. Davidson & CO. increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 11.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 11,922 shares of the construction company’s stock after purchasing an additional 1,180 shares during the period. D.A. Davidson & CO.’s holdings in Martin Marietta Materials were worth $6,459,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $25,000. Riverview Trust Co acquired a new stake in Martin Marietta Materials in the first quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new stake in Martin Marietta Materials in the first quarter valued at approximately $31,000. Fortitude Family Office LLC grew its stake in shares of Martin Marietta Materials by 186.4% during the second 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 last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Martin Marietta Materials during the first quarter worth $41,000. 95.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on MLM shares. Stephens dropped their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Loop Capital decreased 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 research report on Tuesday, August 13th. Stifel Nicolaus cut their price target 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. 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 research note on Monday, August 26th. 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 report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $629.82.

Martin Marietta Materials Price Performance

Shares of MLM opened at $534.16 on Tuesday. The firm has a market cap of $32.65 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 3.57 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. The business’s 50 day moving average price is $545.80 and its two-hundred day moving average price is $571.01. 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 released its 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). Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm earned $5.60 EPS. The firm’s revenue was down 3.1% on a year-over-year basis. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post 20.01 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.59%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date is Tuesday, September 3rd. Martin Marietta Materials’s payout ratio is presently 8.77%.

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.