D.A. Davidson & CO. Buys 1,014 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

D.A. Davidson & CO. grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,936 shares of the construction company’s stock after acquiring an additional 1,014 shares during the period. D.A. Davidson & CO.’s holdings in Martin Marietta Materials were worth $6,963,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Tidal Investments LLC grew its position in shares of Martin Marietta Materials by 14.0% during the 1st 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 in the last quarter. Strategic Wealth Partners Ltd. purchased a new stake in shares of Martin Marietta Materials in the 1st quarter valued at about $298,000. Virtu Financial LLC bought a new stake in shares of Martin Marietta Materials during the 1st quarter valued at about $819,000. Atria Investments Inc grew its holdings in shares of Martin Marietta Materials by 3.1% during the first quarter. Atria Investments Inc now owns 12,205 shares of the construction company’s stock worth $7,480,000 after purchasing an additional 363 shares in the last quarter. Finally, Beck Bode LLC increased its position in shares of Martin Marietta Materials by 40.0% in the first quarter. Beck Bode LLC now owns 8,388 shares of the construction company’s stock worth $5,150,000 after purchasing an additional 2,395 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Trading Down 0.3 %

Shares of MLM opened at $595.35 on Thursday. The stock has a market capitalization of $36.39 billion, a P/E ratio of 18.55, a PEG ratio of 4.10 and a beta of 0.90. Martin Marietta Materials, Inc. has a twelve month low of $456.83 and a twelve month high of $633.23. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $569.17 and a two-hundred day simple moving average of $556.36.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate 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 revenue was down 5.3% on a year-over-year basis. During the same period last year, the company posted $6.94 earnings per share. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 17.58 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 0.53%. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Loop Capital boosted their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Stephens lowered their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Jefferies Financial Group decreased their price objective on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, Truist Financial reduced their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating, twelve 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 an average rating of “Moderate Buy” and an average target price of $644.46.

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.