1,795 Shares in Martin Marietta Materials, Inc. $MLM Acquired by Group One Trading LLC

Group One Trading LLC purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,795 shares of the construction company’s stock, valued at approximately $1,035,000.

A number of other institutional investors have also added to or reduced their stakes in MLM. BlackRock Inc. bought a new position in shares of Martin Marietta Materials during the second quarter worth $2,706,134,000. Victory Capital Management Inc. increased its holdings in Martin Marietta Materials by 51.8% in the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock valued at $1,524,853,000 after acquiring an additional 836,120 shares during the last quarter. Norges Bank bought a new stake in Martin Marietta Materials in the 4th quarter valued at $354,681,000. Bank of America Corp DE lifted its stake in Martin Marietta Materials by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after purchasing an additional 565,856 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Martin Marietta Materials during the 2nd quarter valued at about $199,321,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MLM. DA Davidson set a $625.00 price objective on Martin Marietta Materials in a research report on Monday. Berenberg Bank set a $556.00 target price on Martin Marietta Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Citigroup dropped their price target on Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Morgan Stanley cut their price target on Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Finally, Truist Financial lifted their price objective on Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average price target of $665.29.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $532.96 on Tuesday. The company’s 50-day moving average price is $568.55 and its 200-day moving average price is $594.70. Martin Marietta Materials, Inc. has a twelve month low of $522.19 and a twelve month high of $710.97. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The company has a market cap of $32.01 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 2.31 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, beating analysts’ consensus estimates of $4.76 by $0.24. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.43 EPS. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.07 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be issued a $0.84 dividend. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, September 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.16%.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.