Summit Trail Advisors LLC Increases Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Summit Trail Advisors LLC raised 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 institutional investor owned 1,542 shares of the construction company’s stock after acquiring an additional 62 shares during the quarter. Summit Trail Advisors LLC’s holdings in Martin Marietta Materials were worth $830,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Kovack Advisors Inc. acquired a new position in shares of Martin Marietta Materials in the third quarter valued at approximately $734,000. Peak Financial Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the second quarter worth $2,710,000. Bank of New York Mellon Corp increased its position in shares of Martin Marietta Materials by 2.6% during the second 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 period. ING Groep NV acquired a new stake in shares of Martin Marietta Materials in the third quarter valued at $1,601,000. Finally, Sequoia Financial Advisors LLC boosted its holdings in Martin Marietta Materials by 27.0% in the second quarter. Sequoia Financial Advisors LLC now owns 7,278 shares of the construction company’s stock valued at $3,943,000 after purchasing an additional 1,549 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Up 1.0 %

Shares of MLM stock opened at $603.84 on Tuesday. The company has a market capitalization of $36.91 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 4.05 and a beta of 0.90. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $565.21 and its two-hundred day moving average is $556.17. Martin Marietta Materials, Inc. has a twelve month low of $456.83 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the business earned $6.94 earnings per share. Equities analysts forecast that Martin Marietta Materials, Inc. will post 17.58 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.52%. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.85%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MLM shares. Jefferies Financial Group reduced their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. UBS Group initiated coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective on the stock. Loop Capital boosted their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Truist Financial dropped 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 note on Friday, August 9th. Finally, StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $634.85.

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.