Beck Bode LLC Raises Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Beck Bode LLC grew its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 36.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,455 shares of the construction company’s stock after buying an additional 3,067 shares during the period. Beck Bode LLC’s holdings in Martin Marietta Materials were worth $6,206,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Riverview Trust Co purchased a new position in Martin Marietta Materials in the first quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Martin Marietta Materials during the 1st quarter worth about $31,000. Fortitude Family Office LLC raised its holdings in Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after buying an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new position in Martin Marietta Materials in the first quarter valued at about $41,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday. Citigroup decreased their price target on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Loop Capital lowered their price target on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Morgan Stanley boosted their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Finally, Stifel Nicolaus lowered their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $629.82.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $534.04 on Wednesday. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67. The stock has a market capitalization of $32.92 billion, a PE ratio of 15.82, a PEG ratio of 3.52 and a beta of 0.91. 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 stock has a 50-day simple moving average of $541.39 and a 200-day simple moving average of $567.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the firm earned $5.60 EPS. The company’s revenue was down 3.1% on a year-over-year basis. On average, analysts predict that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.59%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Tuesday, September 3rd. Martin Marietta Materials’s payout ratio is 9.36%.

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.