Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by National Asset Management Inc.

National Asset Management Inc. boosted its position in Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) by 1.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,989 shares of the construction company’s stock after acquiring an additional 56 shares during the quarter. National Asset Management Inc.’s holdings in Martin Marietta Materials were worth $1,151,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of MLM. AHL Investment Management Inc. acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth about $31,000. Tortoise Investment Management LLC acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth about $39,000. First Eagle Investment Management LLC acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth about $41,000. Riverview Trust Co acquired a new position in shares of Martin Marietta Materials during the first quarter worth about $50,000. Finally, Sandy Cove Advisors LLC acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth about $52,000. Institutional investors and hedge funds own 93.49% of the company’s stock.

Martin Marietta Materials Stock Down 1.1 %

Shares of Martin Marietta Materials stock opened at $326.21 on Monday. The company has a quick ratio of 1.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.79. The firm has a market cap of $20.34 billion, a P/E ratio of 31.01, a P/E/G ratio of 1.64 and a beta of 0.82. Martin Marietta Materials, Inc. has a fifty-two week low of $284.99 and a fifty-two week high of $446.46. The business has a 50-day moving average price of $319.97 and a 200 day moving average price of $356.42.

Martin Marietta Materials (NYSE:MLMGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The construction company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.32). The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.13 billion. Martin Marietta Materials had a net margin of 11.63% and a return on equity of 11.42%. The firm’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.04 earnings per share. On average, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 12.97 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 1st were paid a $0.61 dividend. The ex-dividend date of this dividend was Tuesday, May 31st. This represents a $2.44 dividend on an annualized basis and a yield of 0.75%. Martin Marietta Materials’s payout ratio is currently 23.19%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. StockNews.com cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Friday, June 24th. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $420.00 to $410.00 in a research report on Friday, June 3rd. TheStreet lowered Martin Marietta Materials from a “b” rating to a “c+” rating in a research report on Tuesday, May 10th. Wolfe Research raised Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and dropped their target price for the stock from $406.00 to $384.00 in a research report on Thursday, July 14th. Finally, Truist Financial dropped their target price on Martin Marietta Materials to $392.00 in a research report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average target price of $415.50.

Martin Marietta Materials Profile

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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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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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