SPC Financial Inc. Invests $215,000 in Martin Marietta Materials, Inc. (NYSE:MLM)

SPC Financial Inc. purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 350 shares of the construction company’s stock, valued at approximately $215,000.

Other large investors have also recently bought and sold shares of the company. Schear Investment Advisers LLC raised its stake in Martin Marietta Materials by 1.2% in the 4th quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock valued at $822,000 after purchasing an additional 20 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Martin Marietta Materials by 1.8% during the 4th quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock valued at $584,000 after acquiring an additional 21 shares during the period. Global Retirement Partners LLC boosted its holdings in Martin Marietta Materials by 5.0% during the 4th quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock valued at $228,000 after acquiring an additional 22 shares during the period. Independence Bank of Kentucky boosted its holdings in Martin Marietta Materials by 16.9% during the 4th quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock valued at $76,000 after acquiring an additional 22 shares during the period. Finally, Spire Wealth Management raised its position in Martin Marietta Materials by 2.8% in the 1st quarter. Spire Wealth Management now owns 810 shares of the construction company’s stock valued at $497,000 after purchasing an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

NYSE MLM opened at $559.35 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. The stock’s 50-day moving average is $563.95 and its two-hundred day moving average is $559.10. The firm has a market cap of $34.48 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 2.42 and a beta of 0.91. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.05. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The company’s revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.16 EPS. On average, analysts anticipate that Martin Marietta Materials, Inc. will post 23.03 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 8.77%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MLM shares. Truist Financial increased their price target on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group lifted their price target on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Loop Capital lowered their target price on Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Citigroup decreased their price target on Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus decreased their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus price target of $606.08.

Martin Marietta Materials 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.