CHB Investment Group LLC Takes $2.59 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

CHB Investment Group LLC bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the third quarter, Holdings Channel.com reports. The firm bought 4,803 shares of the construction company’s stock, valued at approximately $2,585,000.

Other hedge funds have also modified their holdings of the company. Ameritas Advisory Services LLC grew its holdings in shares of Martin Marietta Materials by 2.8% in the second quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock valued at $360,000 after purchasing an additional 18 shares during the period. Inspire Investing LLC grew its holdings in shares of Martin Marietta Materials by 0.9% in the third quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock valued at $1,144,000 after purchasing an additional 19 shares during the period. Mather Group LLC. grew its holdings in shares of Martin Marietta Materials by 13.6% in the second quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after purchasing an additional 20 shares during the period. TFG Advisers LLC grew its holdings in shares of Martin Marietta Materials by 3.7% in the second quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after purchasing an additional 20 shares during the period. Finally, Meiji Yasuda Life Insurance Co grew its holdings in shares of Martin Marietta Materials by 3.0% in the second quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock valued at $368,000 after purchasing an additional 20 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on MLM. 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 report 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 report on Monday, August 12th. Stifel Nicolaus lowered their target price on shares of 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. Loop Capital lowered their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group lowered their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $619.36.

Martin Marietta Materials Stock Down 0.5 %

Shares of MLM opened at $570.82 on Friday. The stock has a market capitalization of $35.19 billion, a PE ratio of 16.99, a P/E/G ratio of 3.68 and a beta of 0.91. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year 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 company’s 50-day simple moving average is $532.05 and its 200-day simple moving average is $558.51.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly 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 business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $5.60 EPS. Analysts forecast that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $0.79 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.16 annualized dividend and a yield of 0.55%. Martin Marietta Materials’s dividend payout ratio (DPR) 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.