Martin Marietta Materials, Inc. $MLM Shares Purchased by Bank of Hawaii

Bank of Hawaii raised its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 67.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,409 shares of the construction company’s stock after purchasing an additional 973 shares during the period. Bank of Hawaii’s holdings in Martin Marietta Materials were worth $1,518,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MLM. Quent Capital LLC acquired a new stake in Martin Marietta Materials in the 3rd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in Martin Marietta Materials during the second quarter worth $28,000. Redmont Wealth Advisors LLC purchased a new stake in Martin Marietta Materials in the 3rd quarter valued at $32,000. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the 3rd quarter worth $33,000. Finally, Clearstead Trust LLC raised its holdings in shares of Martin Marietta Materials by 93.8% during the 2nd quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock worth $34,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 0.6%

Martin Marietta Materials stock opened at $584.08 on Friday. The company has a market capitalization of $35.23 billion, a P/E ratio of 31.07, a PEG ratio of 2.31 and a beta of 1.13. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.36 and a current ratio of 3.57. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $710.97. The stock has a 50-day simple moving average of $654.23 and a 200-day simple moving average of $632.51.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $4.79 EPS. Equities research analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio is presently 17.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MLM shares. Royal Bank Of Canada reissued a “sector perform” rating and issued a $630.00 price objective on shares of Martin Marietta Materials in a report on Thursday, February 26th. Weiss Ratings lowered shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Stephens dropped their price target on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. DA Davidson set a $680.00 price target on shares of Martin Marietta Materials in a report on Thursday, February 12th. Finally, Morgan Stanley decreased their price objective on Martin Marietta Materials from $706.00 to $702.00 and set an “overweight” rating on the stock in a report on Monday, March 9th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $696.88.

Martin Marietta Materials 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.