Clearstead Advisors LLC Boosts Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Clearstead Advisors LLC boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM – Get Rating) by 19.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,372 shares of the construction company’s stock after buying an additional 223 shares during the period. Clearstead Advisors LLC’s holdings in Martin Marietta Materials were worth $442,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MLM. First Personal Financial Services acquired a new stake in Martin Marietta Materials in the 3rd quarter worth about $30,000. Private Trust Co. NA acquired a new stake in Martin Marietta Materials in the 2nd quarter worth about $37,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Martin Marietta Materials in the 3rd quarter valued at about $45,000. Fairfield Bush & CO. acquired a new position in shares of Martin Marietta Materials in the 1st quarter valued at about $46,000. Finally, Stonebridge Capital Advisors LLC acquired a new position in shares of Martin Marietta Materials in the 1st quarter valued at about $54,000. 93.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MLM has been the topic of several research analyst reports. Stifel Nicolaus lifted their price objective on Martin Marietta Materials from $400.00 to $405.00 and gave the company a “buy” rating in a research note on Monday, December 19th. Citigroup lifted their price objective on Martin Marietta Materials from $385.00 to $406.00 in a research note on Tuesday, January 10th. Raymond James lifted their price objective on Martin Marietta Materials from $389.00 to $405.00 and gave the company an “outperform” rating in a research note on Thursday, February 16th. Morgan Stanley reduced their price objective on Martin Marietta Materials from $397.00 to $390.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 21st. Finally, DA Davidson lifted their price objective on Martin Marietta Materials from $380.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $404.50.

Martin Marietta Materials Trading Up 1.1 %

NYSE:MLM opened at $337.38 on Wednesday. Martin Marietta Materials, Inc. has a 12-month low of $284.99 and a 12-month high of $406.85. The firm has a market capitalization of $20.95 billion, a P/E ratio of 24.31, a P/E/G ratio of 1.76 and a beta of 0.87. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.99 and a quick ratio of 1.39. The business has a 50 day simple moving average of $355.23 and a 200 day simple moving average of $345.34.

Martin Marietta Materials (NYSE:MLM – Get Rating) last released its quarterly earnings data on Wednesday, February 15th. The construction company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.03 by $0.01. Martin Marietta Materials had a return on equity of 11.03% and a net margin of 14.07%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the firm posted $3.15 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities research analysts predict that Martin Marietta Materials, Inc. will post 14.85 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Monday, March 6th will be given a dividend of $0.66 per share. The ex-dividend date is Friday, March 3rd. This represents a $2.64 dividend on an annualized basis and a yield of 0.78%. Martin Marietta Materials’s dividend payout ratio is currently 19.02%.

Martin Marietta Materials Company Profile

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Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregated products only.