Martin Marietta Materials, Inc. (NYSE:MLM) Stock Position Lifted by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC boosted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.1% during the second quarter, HoldingsChannel.com reports. The firm owned 4,964 shares of the construction company’s stock after acquiring an additional 284 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Martin Marietta Materials were worth $2,655,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in Martin Marietta Materials during the first quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $25,000. 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 lifted its stake in Martin Marietta Materials by 186.4% in the second 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. Finally, Pathway Financial Advisers LLC acquired a new stake in Martin Marietta Materials in the first quarter valued at approximately $41,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Stephens reduced their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Truist Financial reduced their target price on shares of 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. Jefferies Financial Group lifted their target price on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Citigroup reduced their target price on shares of 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. Finally, StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $629.82.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $546.29 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The firm has a fifty day moving average price of $540.85 and a two-hundred day moving average price of $567.21. The company has a market cap of $33.67 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share 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 during the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the company earned $5.60 earnings per share. Martin Marietta Materials’s revenue for the quarter was down 3.1% on a year-over-year basis. Analysts expect that Martin Marietta Materials, Inc. will post 19.33 EPS for the current year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a $0.79 dividend. The ex-dividend date is Tuesday, September 3rd. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. Martin Marietta Materials’s dividend payout ratio is 9.36%.

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.