HB Wealth Management LLC Grows Stake in Martin Marietta Materials, Inc. $MLM

HB Wealth Management LLC raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 78.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,008 shares of the construction company’s stock after purchasing an additional 3,522 shares during the period. HB Wealth Management LLC’s holdings in Martin Marietta Materials were worth $5,048,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Bank of America Corp DE grew its stake in Martin Marietta Materials by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after buying an additional 565,856 shares during the last quarter. Norges Bank acquired a new stake in Martin Marietta Materials in the second quarter worth about $233,811,000. State Street Corp grew its stake in shares of Martin Marietta Materials by 2.0% during the second quarter. State Street Corp now owns 2,825,325 shares of the construction company’s stock worth $1,550,990,000 after acquiring an additional 56,353 shares during the last quarter. Shellback Capital LP acquired a new position in shares of Martin Marietta Materials during the second quarter valued at about $26,089,000. Finally, Man Group plc purchased a new position in shares of Martin Marietta Materials in the 2nd quarter valued at approximately $25,458,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 4.5%

NYSE MLM opened at $667.11 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $667.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.07. The company has a market capitalization of $40.23 billion, a PE ratio of 35.17 and a beta of 1.15. The company has a fifty day moving average of $622.28 and a 200 day moving average of $608.34.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Martin Marietta Materials had a net margin of 17.34% and a return on equity of 11.68%. Research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, December 1st. Martin Marietta Materials’s dividend payout ratio is currently 17.50%.

Wall Street Analyst Weigh In

MLM has been the topic of several research analyst reports. UBS Group boosted their target price on shares of Martin Marietta Materials from $705.00 to $723.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Wall Street Zen lowered shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Barclays upped their target price on Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. DA Davidson set a $690.00 price target on Martin Marietta Materials in a research report on Thursday, November 6th. Finally, Citigroup increased their price objective on Martin Marietta Materials from $754.00 to $758.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus target price of $668.67.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.