Clearbridge Investments LLC Buys 4,939 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Clearbridge Investments LLC grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 228,775 shares of the construction company’s stock after acquiring an additional 4,939 shares during the quarter. Clearbridge Investments LLC owned 0.37% of Martin Marietta Materials worth $123,950,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Riverview Trust Co bought a new stake in Martin Marietta Materials during the 1st quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Martin Marietta Materials in the fourth quarter valued at $25,000. Redmont Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $31,000. Fortitude Family Office LLC raised its holdings in Martin Marietta Materials by 186.4% in the 2nd 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 period. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Martin Marietta Materials in the first quarter valued at about $41,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MLM shares. Stephens decreased their price target on 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. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Jefferies Financial Group upped their price target on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Truist Financial lowered their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Loop Capital cut their target price on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $629.82.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $534.98 on Wednesday. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month high of $626.67. The stock’s 50 day moving average is $537.75 and its 200-day moving average is $563.97. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $32.98 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 3.78 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data 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 net margin of 30.80% and a return on equity of 13.85%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the business posted $5.60 earnings per share. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.33 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $0.79 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a dividend yield of 0.59%. Martin Marietta Materials’s dividend payout ratio is 9.36%.

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.