Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Brookstone Capital Management

Brookstone Capital Management decreased its holdings in Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) by 10.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,009 shares of the construction company’s stock after selling 244 shares during the quarter. Brookstone Capital Management’s holdings in Martin Marietta Materials were worth $618,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MLM. Vanguard Group Inc. raised its stake in Martin Marietta Materials by 1.6% during the first quarter. Vanguard Group Inc. now owns 6,850,912 shares of the construction company’s stock valued at $2,636,848,000 after buying an additional 105,535 shares in the last quarter. BlackRock Inc. boosted its stake in Martin Marietta Materials by 1.0% during the 1st quarter. BlackRock Inc. now owns 4,116,762 shares of the construction company’s stock valued at $1,584,501,000 after purchasing an additional 39,408 shares in the last quarter. Select Equity Group L.P. lifted its position in shares of Martin Marietta Materials by 8.9% during the 1st quarter. Select Equity Group L.P. now owns 3,816,405 shares of the construction company’s stock valued at $1,468,896,000 after acquiring an additional 310,451 shares during the last quarter. State Street Corp lifted its position in shares of Martin Marietta Materials by 0.5% during the 4th quarter. State Street Corp now owns 2,781,701 shares of the construction company’s stock valued at $1,225,395,000 after acquiring an additional 13,649 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Martin Marietta Materials by 59.6% in the first quarter. JPMorgan Chase & Co. now owns 1,978,299 shares of the construction company’s stock valued at $761,428,000 after purchasing an additional 739,005 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

Martin Marietta Materials Stock Down 0.4 %

MLM stock opened at $327.70 on Friday. The company has a market cap of $20.44 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 1.65 and a beta of 0.87. The company has a quick ratio of 2.53, a current ratio of 3.63 and a debt-to-equity ratio of 0.74. Martin Marietta Materials, Inc. has a twelve month low of $284.99 and a twelve month high of $446.46. The business’s 50-day simple moving average is $346.51 and its 200 day simple moving average is $345.98.

Martin Marietta Materials (NYSE:MLMGet Rating) last posted its earnings results on Thursday, July 28th. The construction company reported $3.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.13). The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.59 billion. Martin Marietta Materials had a net margin of 13.49% and a return on equity of 11.28%. The business’s revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.81 EPS. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 13.27 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 1st will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Wednesday, August 31st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.61. Martin Marietta Materials’s payout ratio is currently 20.67%.

Wall Street Analysts Forecast Growth

MLM has been the subject of several recent research reports. Wolfe Research upgraded Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and cut their price objective for the stock from $406.00 to $384.00 in a report on Thursday, July 14th. Exane BNP Paribas raised shares of Martin Marietta Materials from a “neutral” rating to an “outperform” rating in a research report on Tuesday. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Raymond James reaffirmed an “outperform” rating and issued a $410.00 price target on shares of Martin Marietta Materials in a research report on Friday, August 19th. Finally, Truist Financial lowered their price target on Martin Marietta Materials to $392.00 in a research report on Tuesday, July 5th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average price target of $411.18.

About Martin Marietta Materials

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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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