Private Advisor Group LLC Has $785,000 Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Private Advisor Group LLC grew its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 20.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,458 shares of the construction company’s stock after buying an additional 249 shares during the quarter. Private Advisor Group LLC’s holdings in Martin Marietta Materials were worth $785,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in MLM. Newbridge Financial Services Group Inc. raised its stake in shares of Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after buying an additional 37 shares in the last quarter. Asset Dedication LLC raised its stake in shares of Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares in the last quarter. Fortitude Family Office LLC increased its position in shares of Martin Marietta Materials by 186.4% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after purchasing an additional 41 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Martin Marietta Materials during the 1st quarter worth about $41,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Martin Marietta Materials during the 2nd quarter worth about $43,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $580.14 on Friday. Martin Marietta Materials, Inc. has a 1-year low of $438.53 and a 1-year high of $626.67. The company has a current ratio of 2.34, a quick ratio of 0.94 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $541.37 and a 200 day simple moving average of $555.98. The stock has a market capitalization of $35.46 billion, a PE ratio of 18.08, a P/E/G ratio of 5.04 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the business posted $6.94 earnings per share. Martin Marietta Materials’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, research analysts expect that Martin Marietta Materials, Inc. will post 18.48 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.54%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Tuesday, September 3rd. Martin Marietta Materials’s payout ratio is 9.85%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. Jefferies Financial Group dropped their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their target price on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley increased their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Finally, Truist Financial dropped their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $626.92.

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.