Belpointe Asset Management LLC Buys 86 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Belpointe Asset Management LLC grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 20.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 512 shares of the construction company’s stock after acquiring an additional 86 shares during the period. Belpointe Asset Management LLC’s holdings in Martin Marietta Materials were worth $180,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MLM. Reilly Financial Advisors LLC increased its position in shares of Martin Marietta Materials by 63.0% in the second quarter. Reilly Financial Advisors LLC now owns 75 shares of the construction company’s stock worth $26,000 after purchasing an additional 29 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of Martin Marietta Materials in the first quarter worth approximately $28,000. Zions Bancorporation N.A. bought a new position in shares of Martin Marietta Materials in the first quarter worth approximately $29,000. E Fund Management Co. Ltd. bought a new position in shares of Martin Marietta Materials in the first quarter worth approximately $37,000. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Martin Marietta Materials by 51.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 121 shares of the construction company’s stock worth $41,000 after purchasing an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Several research firms recently weighed in on MLM. DA Davidson upped their price objective on shares of Martin Marietta Materials from $350.00 to $400.00 and gave the stock a “neutral” rating in a research report on Monday, August 2nd. Jefferies Financial Group began coverage on shares of Martin Marietta Materials in a research report on Wednesday, August 25th. They issued a “buy” rating and a $440.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on shares of Martin Marietta Materials from $335.00 to $385.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 26th. Finally, Morgan Stanley reduced their price target on shares of Martin Marietta Materials from $408.00 to $405.00 and set an “overweight” rating on the stock in a research report on Monday, August 2nd. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials currently has an average rating of “Hold” and an average target price of $342.25.

NYSE:MLM opened at $361.68 on Wednesday. The firm has a market cap of $22.56 billion, a PE ratio of 29.43 and a beta of 0.63. Martin Marietta Materials, Inc. has a fifty-two week low of $215.74 and a fifty-two week high of $391.76. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.17 and a current ratio of 2.13. The business has a 50 day moving average price of $367.85 and a 200-day moving average price of $356.73.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, July 29th. The construction company reported $3.81 earnings per share for the quarter, missing analysts’ consensus estimates of $3.91 by ($0.10). The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Martin Marietta Materials had a net margin of 15.81% and a return on equity of 13.18%. During the same period last year, the company posted $3.49 EPS. Research analysts predict that Martin Marietta Materials, Inc. will post 12.21 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Wednesday, September 1st will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Tuesday, August 31st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.57. Martin Marietta Materials’s dividend payout ratio is 21.14%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregates products only.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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