Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. boosted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,724 shares of the construction company’s stock after purchasing an additional 91 shares during the quarter. Raymond James Trust N.A.’s holdings in Martin Marietta Materials were worth $928,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Kovack Advisors Inc. acquired a new stake in shares of Martin Marietta Materials in the 3rd quarter worth $734,000. Peak Financial Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the 2nd quarter worth $2,710,000. Bank of New York Mellon Corp increased its stake in shares of Martin Marietta Materials by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after acquiring an additional 11,749 shares during the last quarter. ING Groep NV acquired a new stake in shares of Martin Marietta Materials in the 3rd quarter worth $1,601,000. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Martin Marietta Materials by 27.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,278 shares of the construction company’s stock worth $3,943,000 after acquiring an additional 1,549 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MLM shares. Truist Financial cut their target price on 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. Stephens cut their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Morgan Stanley raised their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Loop Capital raised their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $634.85.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $597.81 on Monday. The business has a 50-day moving average of $565.21 and a 200 day moving average of $556.45. Martin Marietta Materials, Inc. has a 12 month low of $456.83 and a 12 month high of $633.23. The stock has a market capitalization of $36.54 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 3.95 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.94 EPS. As a group, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s payout ratio is 9.85%.

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.