Marks Group Wealth Management Inc Buys 253 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Marks Group Wealth Management Inc lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 55.7% during the third quarter, Holdings Channel.com reports. The firm owned 707 shares of the construction company’s stock after acquiring an additional 253 shares during the period. Marks Group Wealth Management Inc’s holdings in Martin Marietta Materials were worth $381,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Peak Financial Advisors LLC bought a new position in Martin Marietta Materials in the second quarter worth approximately $2,710,000. TD Asset Management Inc lifted its holdings in shares of Martin Marietta Materials by 4.4% in the 1st quarter. TD Asset Management Inc now owns 147,963 shares of the construction company’s stock worth $90,840,000 after purchasing an additional 6,263 shares in the last quarter. Russell Investments Group Ltd. grew its position in Martin Marietta Materials by 8.1% in the 1st quarter. Russell Investments Group Ltd. now owns 74,259 shares of the construction company’s stock valued at $45,545,000 after purchasing an additional 5,576 shares during the period. M&G Plc bought a new stake in Martin Marietta Materials during the 1st quarter valued at $41,142,000. Finally, Empowered Funds LLC raised its holdings in Martin Marietta Materials by 986.1% during the first quarter. Empowered Funds LLC now owns 7,842 shares of the construction company’s stock worth $4,815,000 after buying an additional 7,120 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Morgan Stanley boosted their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Loop Capital raised their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Finally, Truist Financial lowered their price target on 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 given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $626.92.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $617.31 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The company has a market capitalization of $37.73 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 3.86 and a beta of 0.90. Martin Marietta Materials, Inc. has a fifty-two week low of $439.36 and a fifty-two week high of $633.23. The company’s 50-day moving average is $545.48 and its 200 day moving average is $556.16.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the business earned $6.94 earnings per share. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 17.95 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a $0.79 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.51%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s payout ratio is 9.85%.

About Martin Marietta Materials

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.