Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 18.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,113 shares of the construction company’s stock after purchasing an additional 172 shares during the period. Insigneo Advisory Services LLC’s holdings in Martin Marietta Materials were worth $615,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. acquired a new stake in Martin Marietta Materials during the fourth quarter worth approximately $25,000. Riverview Trust Co acquired a new position in Martin Marietta Materials in the 1st quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new position in Martin Marietta Materials in the 1st quarter valued at $31,000. Fortitude Family Office LLC boosted its position in shares of Martin Marietta Materials by 186.4% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after purchasing an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Martin Marietta Materials during the 1st quarter worth $41,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $539.63 on Friday. The stock has a market cap of $32.98 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 3.78 and a beta of 0.91. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average of $538.74 and a 200-day moving average of $565.39. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) 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 the consensus estimate of $1.83 billion. During the same quarter last year, the business earned $5.60 earnings per share. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, analysts expect that Martin Marietta Materials, Inc. will post 19.33 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a $0.79 dividend. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a yield of 0.59%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.36%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Stephens decreased their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Stifel Nicolaus reduced 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. Truist Financial dropped their price objective 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. Citigroup dropped their price objective 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, Morgan Stanley increased their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $629.82.

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.