Walleye Capital LLC Boosts Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Walleye Capital LLC lifted its position in Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) by 4.9% during the first quarter, Holdings Channel reports. The institutional investor owned 1,805 shares of the construction company’s stock after buying an additional 84 shares during the quarter. Walleye Capital LLC’s holdings in Martin Marietta Materials were worth $695,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Tcwp LLC acquired a new stake in Martin Marietta Materials during the 1st quarter valued at approximately $41,000. Fairfield Bush & CO. acquired a new position in shares of Martin Marietta Materials in the 1st quarter valued at $46,000. Riverview Trust Co purchased a new stake in Martin Marietta Materials in the 1st quarter worth $50,000. Prospera Financial Services Inc purchased a new stake in Martin Marietta Materials in the 1st quarter worth $53,000. Finally, CVA Family Office LLC increased its holdings in Martin Marietta Materials by 211.1% in the 1st quarter. CVA Family Office LLC now owns 140 shares of the construction company’s stock worth $54,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $334.57 on Wednesday. The firm has a market capitalization of $20.87 billion, a P/E ratio of 26.20, a P/E/G ratio of 1.63 and a beta of 0.87. Martin Marietta Materials, Inc. has a 52 week low of $284.99 and a 52 week high of $446.46. The company has a quick ratio of 2.53, a current ratio of 3.63 and a debt-to-equity ratio of 0.74. The firm’s 50 day moving average is $345.81 and its two-hundred day moving average is $346.32.

Martin Marietta Materials (NYSE:MLMGet Rating) last announced its earnings results on Thursday, July 28th. The construction company reported $3.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.13). The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Martin Marietta Materials had a return on equity of 11.28% and a net margin of 13.49%. The business’s revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the business posted $3.81 earnings per share. Research analysts forecast that Martin Marietta Materials, Inc. will post 13.27 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 1st will be given a dividend of $0.66 per share. The ex-dividend date is Wednesday, August 31st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.61. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.79%. Martin Marietta Materials’s dividend payout ratio (DPR) is 20.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Martin Marietta Materials to $410.00 in a report on Tuesday, August 9th. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. TheStreet raised shares of Martin Marietta Materials from a “c+” rating to a “b-” rating in a research report on Wednesday, August 10th. Raymond James reissued an “outperform” rating and set a $410.00 price target on shares of Martin Marietta Materials in a research report on Friday, August 19th. Finally, Truist Financial cut their target price on shares of Martin Marietta Materials to $392.00 in a research note on Tuesday, July 5th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target of $411.18.

Martin Marietta Materials Company Profile

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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.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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