Robbins Farley Increases Holdings in Martin Marietta Materials, Inc. $MLM

Robbins Farley boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 20.9% during the second quarter, HoldingsChannel reports. The firm owned 12,348 shares of the construction company’s stock after buying an additional 2,131 shares during the period. Martin Marietta Materials comprises about 2.7% of Robbins Farley’s portfolio, making the stock its 5th biggest holding. Robbins Farley’s holdings in Martin Marietta Materials were worth $7,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Integrated Wealth Concepts LLC increased its holdings in shares of Martin Marietta Materials by 6.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after buying an additional 49 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Martin Marietta Materials by 11.4% during the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock worth $673,000 after acquiring an additional 144 shares during the last quarter. Sivia Capital Partners LLC grew its position in Martin Marietta Materials by 11.1% in the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock worth $280,000 after acquiring an additional 51 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Martin Marietta Materials by 205.9% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock worth $143,000 after acquiring an additional 175 shares in the last quarter. Finally, Cresset Asset Management LLC increased its stake in Martin Marietta Materials by 22.6% in the second quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock valued at $427,000 after acquiring an additional 143 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on MLM shares. Wells Fargo & Company cut their target price on Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Stephens reduced their target price on shares of Martin Marietta Materials from $700.00 to $680.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Raymond James Financial set a $660.00 price target on shares of Martin Marietta Materials in a research note on Friday, July 31st. Wolfe Research set a $648.00 price target on shares of Martin Marietta Materials in a research report on Tuesday, August 4th. Finally, Citigroup reduced their price objective on Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $665.88.

Martin Marietta Materials Stock Up 2.6%

NYSE MLM opened at $517.82 on Thursday. Martin Marietta Materials, Inc. has a 1 year low of $502.56 and a 1 year high of $710.97. The stock has a market capitalization of $31.11 billion, a PE ratio of 12.72, a PEG ratio of 2.18 and a beta of 1.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73. The business’s 50-day moving average is $556.99 and its 200 day moving average is $587.01.

Martin Marietta Materials (NYSE:MLM) last released 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. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the company posted $5.43 EPS. Martin Marietta Materials’s quarterly revenue was up 21.0% compared to the same quarter last year. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s payout ratio is 8.26%.

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.