Martin Marietta Materials, Inc. (NYSE:MLM) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,542 shares of the construction company’s stock after purchasing an additional 62 shares during the period. Summit Trail Advisors LLC’s holdings in Martin Marietta Materials were worth $830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC acquired a new position in shares of Martin Marietta Materials in the first quarter worth about $204,000. Ancora Advisors LLC boosted its position in Martin Marietta Materials by 25.1% during the first quarter. Ancora Advisors LLC now owns 8,603 shares of the construction company’s stock worth $5,282,000 after purchasing an additional 1,726 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Martin Marietta Materials by 17.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 6,297 shares of the construction company’s stock worth $3,866,000 after purchasing an additional 952 shares in the last quarter. Tidal Investments LLC grew its holdings in Martin Marietta Materials by 14.0% in the first quarter. Tidal Investments LLC now owns 3,632 shares of the construction company’s stock valued at $2,230,000 after purchasing an additional 445 shares during the period. Finally, Wahed Invest LLC increased its position in shares of Martin Marietta Materials by 15.1% in the first quarter. Wahed Invest LLC now owns 1,210 shares of the construction company’s stock valued at $743,000 after buying an additional 159 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MLM. JPMorgan Chase & Co. decreased their target price on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Loop Capital increased their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Citigroup cut their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Truist Financial lowered their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $634.85.

Martin Marietta Materials Trading Up 1.0 %

Shares of MLM opened at $603.84 on Tuesday. Martin Marietta Materials, Inc. has a 12-month low of $456.83 and a 12-month high of $633.23. The firm has a market capitalization of $36.91 billion, a P/E ratio of 18.82, a P/E/G ratio of 4.05 and a beta of 0.90. The firm has a 50-day moving average price of $565.21 and a 200 day moving average price of $556.17. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). The firm 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% on a year-over-year basis. During the same period last year, the company earned $6.94 EPS. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 17.58 EPS 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. Shareholders of record on Monday, December 2nd will be given a $0.79 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.52%. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Martin Marietta Materials Company 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.