Martin Marietta Materials, Inc. (NYSE:MLM) Stake Raised by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 23,888.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,159 shares of the construction company’s stock after buying an additional 2,150 shares during the period. Frank Rimerman Advisors LLC’s holdings in Martin Marietta Materials were worth $1,170,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. ProShare Advisors LLC raised its holdings in shares of Martin Marietta Materials by 8.0% during the second quarter. ProShare Advisors LLC now owns 10,228 shares of the construction company’s stock valued at $5,542,000 after buying an additional 755 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Martin Marietta Materials by 1.8% during the second quarter. Westwood Holdings Group Inc. now owns 43,078 shares of the construction company’s stock valued at $23,340,000 after buying an additional 782 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of Martin Marietta Materials by 3.8% during the second quarter. Summit Trail Advisors LLC now owns 1,480 shares of the construction company’s stock valued at $802,000 after acquiring an additional 54 shares during the period. Pacer Advisors Inc. increased its stake in shares of Martin Marietta Materials by 14.8% during the second quarter. Pacer Advisors Inc. now owns 6,079 shares of the construction company’s stock valued at $3,294,000 after acquiring an additional 783 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of Martin Marietta Materials by 3.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 12,419 shares of the construction company’s stock valued at $6,729,000 after acquiring an additional 400 shares during the period. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 0.4 %

NYSE MLM opened at $546.29 on Monday. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month high of $626.67. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86. The stock has a market cap of $33.67 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 3.52 and a beta of 0.91. The firm’s 50 day moving average price is $540.85 and its two-hundred day moving average price is $566.68.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data 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 firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the firm posted $5.60 earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.33 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.58%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Tuesday, September 3rd. Martin Marietta Materials’s payout ratio is presently 9.36%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Citigroup lowered their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Morgan Stanley raised their price objective on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Jefferies Financial Group raised their price objective 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. Stifel Nicolaus lowered their price objective on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Finally, Stephens lowered their price objective on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $629.82.

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.