EP Wealth Advisors LLC Buys 62 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

EP Wealth Advisors LLC grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,035 shares of the construction company’s stock after buying an additional 62 shares during the quarter. EP Wealth Advisors LLC’s holdings in Martin Marietta Materials were worth $561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of MLM. Global Assets Advisory LLC bought a new stake in Martin Marietta Materials during the 1st quarter worth approximately $22,265,000. Brevan Howard Capital Management LP raised its position in shares of Martin Marietta Materials by 49.7% during the 4th quarter. Brevan Howard Capital Management LP now owns 5,672 shares of the construction company’s stock valued at $2,830,000 after purchasing an additional 1,882 shares during the period. Vanguard Group Inc. raised its position in shares of Martin Marietta Materials by 1.0% during the 4th 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 during the period. BNP Paribas Financial Markets lifted its stake in shares of Martin Marietta Materials by 182.5% during the 1st quarter. BNP Paribas Financial Markets now owns 73,135 shares of the construction company’s stock valued at $44,901,000 after buying an additional 47,250 shares in the last quarter. Finally, Peak Financial Advisors LLC bought a new position in Martin Marietta Materials in the 2nd quarter worth $2,710,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on MLM shares. Citigroup lowered their price objective on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Stifel Nicolaus dropped their price target on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Truist Financial cut 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 report on Friday, August 9th. Jefferies Financial Group boosted their target price on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Stephens cut 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $629.82.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $521.23 on Friday. 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’s fifty day moving average is $536.29 and its 200 day moving average is $562.95. The firm has a market capitalization of $32.13 billion, a PE ratio of 15.44, a PEG ratio of 3.78 and a beta of 0.91. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last released its earnings results 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). The firm 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%. Martin Marietta Materials’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $5.60 EPS. On average, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.61%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is presently 9.36%.

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.