MBB Public Markets I LLC Has $2.54 Million Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

MBB Public Markets I LLC grew its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 804.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,685 shares of the construction company’s stock after buying an additional 4,167 shares during the quarter. MBB Public Markets I LLC’s holdings in Martin Marietta Materials were worth $2,538,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Martin Marietta Materials by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after purchasing an additional 69,701 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Martin Marietta Materials by 114.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after buying an additional 523,038 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Martin Marietta Materials by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock valued at $337,903,000 after buying an additional 12,759 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Martin Marietta Materials by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock valued at $252,318,000 after buying an additional 11,749 shares in the last quarter. Finally, William Blair Investment Management LLC grew its position in Martin Marietta Materials by 1.0% in the second quarter. William Blair Investment Management LLC now owns 374,811 shares of the construction company’s stock valued at $203,073,000 after acquiring an additional 3,598 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

MLM stock opened at $539.11 on Friday. The firm has a market cap of $33.23 billion, a PE ratio of 15.97, 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 price of $538.34 and a 200-day moving average price of $565.00. Martin Marietta Materials, Inc. has a 1-year low of $389.90 and a 1-year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last issued its 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). The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.60 earnings per share. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.79 per share. 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 is currently 9.36%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Morgan Stanley raised their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Loop Capital lowered 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 report on Tuesday, August 13th. Stephens cut their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, 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 report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.