Dimensional Fund Advisors LP increased its stake in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 581,033 shares of the construction company’s stock after purchasing an additional 28,377 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Martin Marietta Materials were worth $268,249,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Fiduciary Alliance LLC bought a new position in Martin Marietta Materials in the 2nd quarter worth $30,000. Quarry LP bought a new stake in Martin Marietta Materials during the first quarter valued at about $30,000. ZRC Wealth Management LLC bought a new stake in Martin Marietta Materials during the first quarter valued at about $39,000. Clear Street Markets LLC raised its holdings in Martin Marietta Materials by 95.2% during the first quarter. Clear Street Markets LLC now owns 123 shares of the construction company’s stock valued at $44,000 after acquiring an additional 60 shares during the period. Finally, Fairfield Bush & CO. bought a new stake in Martin Marietta Materials during the first quarter valued at about $46,000. 93.22% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. HSBC assumed coverage on Martin Marietta Materials in a report on Friday, September 15th. They set a “reduce” rating and a $376.00 price target on the stock. Barclays raised their price objective on Martin Marietta Materials from $430.00 to $490.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. JPMorgan Chase & Co. raised their price objective on Martin Marietta Materials from $470.00 to $490.00 and gave the company a “neutral” rating in a research report on Thursday, August 24th. Truist Financial raised their price objective on Martin Marietta Materials from $446.00 to $550.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Finally, Stephens raised their price objective on Martin Marietta Materials from $525.00 to $540.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $471.79.
Martin Marietta Materials Stock Performance
Martin Marietta Materials stock opened at $454.88 on Thursday. The company has a 50 day moving average price of $425.77 and a 200-day moving average price of $429.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.60 and a current ratio of 2.47. Martin Marietta Materials, Inc. has a fifty-two week low of $317.94 and a fifty-two week high of $468.50. The company has a market capitalization of $28.12 billion, a PE ratio of 26.40, a P/E/G ratio of 1.15 and a beta of 0.91.
Martin Marietta Materials (NYSE:MLM – Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The construction company reported $6.94 EPS for the quarter, topping analysts’ consensus estimates of $6.04 by $0.90. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Martin Marietta Materials had a net margin of 16.10% and a return on equity of 14.89%. Martin Marietta Materials’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.69 earnings per share. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 18.22 earnings per share for the current year.
Martin Marietta Materials Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.65%. The ex-dividend date is Thursday, November 30th. Martin Marietta Materials’s dividend payout ratio is currently 17.18%.
Insiders Place Their Bets
In other Martin Marietta Materials news, VP Craig M. Latorre sold 1,934 shares of Martin Marietta Materials stock in a transaction on Monday, August 21st. The shares were sold at an average price of $431.68, for a total value of $834,869.12. Following the transaction, the vice president now directly owns 9,731 shares of the company’s stock, valued at $4,200,678.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.59% of the company’s stock.
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.
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