Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by SteelPeak Wealth LLC

SteelPeak Wealth LLC boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,201 shares of the construction company’s stock after purchasing an additional 151 shares during the quarter. SteelPeak Wealth LLC’s holdings in Martin Marietta Materials were worth $1,723,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MLM. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Martin Marietta Materials by 18.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,722 shares of the construction company’s stock worth $3,513,000 after purchasing an additional 881 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Martin Marietta Materials by 0.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 148,571 shares of the construction company’s stock worth $91,214,000 after acquiring an additional 682 shares during the period. State of Alaska Department of Revenue grew its position in Martin Marietta Materials by 0.4% in the first quarter. State of Alaska Department of Revenue now owns 6,704 shares of the construction company’s stock valued at $4,115,000 after acquiring an additional 30 shares in the last quarter. Norden Group LLC acquired a new stake in Martin Marietta Materials in the first quarter valued at approximately $2,089,000. Finally, First Trust Direct Indexing L.P. raised its stake in shares of Martin Marietta Materials by 22.8% during the first quarter. First Trust Direct Indexing L.P. now owns 1,342 shares of the construction company’s stock valued at $824,000 after purchasing an additional 249 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MLM shares. Citigroup lowered their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. Morgan Stanley raised their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Stephens cut their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Loop Capital cut their target price on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $621.50.

Martin Marietta Materials Stock Up 3.6 %

MLM stock opened at $604.71 on Thursday. The firm has a market cap of $36.96 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 4.62 and a beta of 0.91. Martin Marietta Materials, Inc. has a 1-year low of $404.93 and a 1-year high of $626.67. The firm has a fifty day moving average price of $538.61 and a two-hundred day moving average price of $555.78. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. Martin Marietta Materials’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company earned $5.60 EPS. Research analysts predict that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.52%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is presently 9.60%.

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.