Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. increased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLMFree Report) by 22.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,342 shares of the construction company’s stock after purchasing an additional 249 shares during the period. First Trust Direct Indexing L.P.’s holdings in Martin Marietta Materials were worth $824,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of MLM. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $25,000. Pinnacle Bancorp Inc. acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $26,000. Riverview Trust Co acquired a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $26,000. Exchange Traded Concepts LLC acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $27,000. Finally, Benjamin Edwards Inc. raised its position in shares of Martin Marietta Materials by 78.8% during the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MLM has been the subject of several analyst reports. Wolfe Research downgraded Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Loop Capital cut their price target on Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup boosted their price target on Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a report on Friday, April 5th. StockNews.com downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Finally, The Goldman Sachs Group boosted their price target on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average target price of $610.25.

View Our Latest Research Report on Martin Marietta Materials

Martin Marietta Materials Stock Up 0.6 %

MLM stock opened at $536.50 on Friday. Martin Marietta Materials, Inc. has a 12-month low of $389.90 and a 12-month high of $626.67. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. The company has a market cap of $33.07 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 2.36 and a beta of 0.91. The company has a 50 day moving average of $568.12 and a two-hundred day moving average of $557.77.

Martin Marietta Materials (NYSE:MLMGet Free Report) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the business posted $2.16 EPS. Martin Marietta Materials’s revenue was down 7.6% compared to the same quarter last year. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post 23.1 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio is presently 8.77%.

Martin Marietta Materials Profile

(Free Report)

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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