Tema Etfs LLC Invests $998,000 in Martin Marietta Materials, Inc. $MLM

Tema Etfs LLC bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,818 shares of the construction company’s stock, valued at approximately $998,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its stake in shares of Martin Marietta Materials by 10.4% during the second quarter. Parkside Financial Bank & Trust now owns 181 shares of the construction company’s stock valued at $99,000 after acquiring an additional 17 shares in the last quarter. Personal CFO Solutions LLC boosted its holdings in Martin Marietta Materials by 2.5% in the second quarter. Personal CFO Solutions LLC now owns 787 shares of the construction company’s stock valued at $432,000 after purchasing an additional 19 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Martin Marietta Materials by 1.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,205 shares of the construction company’s stock worth $661,000 after buying an additional 21 shares in the last quarter. Fidelis Capital Partners LLC increased its stake in shares of Martin Marietta Materials by 1.9% in the second quarter. Fidelis Capital Partners LLC now owns 1,113 shares of the construction company’s stock worth $666,000 after buying an additional 21 shares during the last quarter. Finally, CVA Family Office LLC boosted its stake in Martin Marietta Materials by 21.4% during the 2nd quarter. CVA Family Office LLC now owns 125 shares of the construction company’s stock valued at $69,000 after acquiring an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 0.9%

MLM opened at $624.50 on Friday. The stock’s 50 day moving average price is $619.35 and its 200 day moving average price is $593.98. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.07. The stock has a market cap of $37.66 billion, a P/E ratio of 32.92 and a beta of 1.16. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $665.18.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.62 by ($0.65). The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $2.06 billion. Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, December 1st. Martin Marietta Materials’s payout ratio is 17.50%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MLM shares. JPMorgan Chase & Co. boosted their price objective on Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. DA Davidson set a $690.00 target price on shares of Martin Marietta Materials in a research note on Thursday, November 6th. Raymond James Financial raised their price target on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. UBS Group boosted their price objective on shares of Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Morgan Stanley raised their target price on shares of Martin Marietta Materials from $610.00 to $660.00 and gave the stock an “overweight” rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $647.81.

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.