Rodgers & Associates LTD Purchases New Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Rodgers & Associates LTD acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 327 shares of the construction company’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLM. Norges Bank acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth approximately $308,705,000. Balyasny Asset Management L.P. lifted its holdings in Martin Marietta Materials by 4,244.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company’s stock valued at $138,289,000 after buying an additional 270,802 shares during the period. Corient Private Wealth LLC boosted its stake in Martin Marietta Materials by 306.8% in the fourth quarter. Corient Private Wealth LLC now owns 161,690 shares of the construction company’s stock valued at $80,668,000 after acquiring an additional 121,941 shares during the last quarter. Jennison Associates LLC grew its holdings in Martin Marietta Materials by 96.6% during the 4th quarter. Jennison Associates LLC now owns 157,904 shares of the construction company’s stock worth $78,780,000 after acquiring an additional 77,596 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Martin Marietta Materials by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock worth $3,577,268,000 after acquiring an additional 69,701 shares during the period. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Down 0.9 %

MLM traded down $4.98 during trading on Friday, reaching $559.08. The company had a trading volume of 894,307 shares, compared to its average volume of 493,224. The company has a market cap of $34.46 billion, a P/E ratio of 16.57, a PEG ratio of 2.49 and a beta of 0.91. Martin Marietta Materials, Inc. has a 12 month low of $389.90 and a 12 month high of $626.67. 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 business’s fifty day moving average price is $559.49 and its 200 day moving average price is $562.28.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.88 by $0.05. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The firm’s revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 EPS. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 22.97 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were given a dividend of $0.74 per share. The ex-dividend date was Monday, June 3rd. This represents a $2.96 annualized dividend and a dividend yield of 0.53%. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

Analysts Set New Price Targets

MLM has been the topic of a number of analyst reports. Jefferies Financial Group increased their price target on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus cut their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. StockNews.com lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Truist Financial increased their price target on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average target price of $617.33.

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.