Steward Partners Investment Advisory LLC Has $545,000 Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Steward Partners Investment Advisory LLC lifted its stake in Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) by 10.5% during the first quarter, Holdings Channel.com reports. The fund owned 1,416 shares of the construction company’s stock after buying an additional 135 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Martin Marietta Materials were worth $545,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. AHL Investment Management Inc. acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $31,000. Tortoise Investment Management LLC acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $39,000. First Eagle Investment Management LLC bought a new position in Martin Marietta Materials during the fourth quarter worth about $41,000. Sandy Cove Advisors LLC bought a new position in Martin Marietta Materials during the fourth quarter worth about $52,000. Finally, Quadrant Capital Group LLC grew its holdings in Martin Marietta Materials by 35.9% during the fourth quarter. Quadrant Capital Group LLC now owns 125 shares of the construction company’s stock worth $55,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 93.49% of the company’s stock.

Analyst Upgrades and Downgrades

MLM has been the subject of a number of research analyst reports. DA Davidson reduced their price target on Martin Marietta Materials from $450.00 to $375.00 and set a “buy” rating for the company in a report on Friday, July 1st. Morgan Stanley reduced their price target on Martin Marietta Materials from $408.00 to $394.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Wolfe Research upgraded Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and reduced their price target for the stock from $406.00 to $384.00 in a report on Thursday, July 14th. Truist Financial reduced their price target on Martin Marietta Materials to $392.00 in a report on Tuesday, July 5th. Finally, TheStreet cut Martin Marietta Materials from a “b” rating to a “c+” rating in a report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $415.50.

Martin Marietta Materials Stock Up 2.3 %

NYSE MLM opened at $336.03 on Thursday. The company has a current ratio of 2.79, a quick ratio of 1.69 and a debt-to-equity ratio of 0.79. Martin Marietta Materials, Inc. has a 1-year low of $284.99 and a 1-year high of $446.46. The company has a 50 day moving average of $320.22 and a 200-day moving average of $355.40. The company has a market cap of $20.96 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 1.66 and a beta of 0.82.

Martin Marietta Materials (NYSE:MLMGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The construction company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.32). Martin Marietta Materials had a net margin of 11.63% and a return on equity of 11.42%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm posted $1.04 earnings per share. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. On average, equities research analysts expect that Martin Marietta Materials, Inc. will post 12.97 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 1st were given a dividend of $0.61 per share. The ex-dividend date was Tuesday, May 31st. This represents a $2.44 annualized dividend and a yield of 0.73%. Martin Marietta Materials’s dividend payout ratio is currently 23.19%.

Martin Marietta Materials Company 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.

See Also

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

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