Baker Tilly Wealth Management LLC Acquires 323 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Baker Tilly Wealth Management LLC grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 82.8% during the third quarter, HoldingsChannel.com reports. The fund owned 713 shares of the construction company’s stock after buying an additional 323 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Martin Marietta Materials were worth $384,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MLM. Price T Rowe Associates Inc. MD increased its position in Martin Marietta Materials by 114.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after acquiring an additional 523,038 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Martin Marietta Materials by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock worth $337,903,000 after purchasing an additional 12,759 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Martin Marietta Materials by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after purchasing an additional 11,749 shares during the period. William Blair Investment Management LLC grew its position in Martin Marietta Materials by 1.0% during the second quarter. William Blair Investment Management LLC now owns 374,811 shares of the construction company’s stock valued at $203,073,000 after buying an additional 3,598 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in Martin Marietta Materials by 2.2% during the second quarter. Clearbridge Investments LLC now owns 228,775 shares of the construction company’s stock valued at $123,950,000 after buying an additional 4,939 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $578.27 on Tuesday. The stock has a market capitalization of $35.64 billion, a PE ratio of 17.13, a P/E/G ratio of 4.62 and a beta of 0.91. Martin Marietta Materials, Inc. has a 1-year low of $398.59 and a 1-year high of $626.67. The business has a 50 day simple moving average of $536.79 and a two-hundred day simple moving average of $556.11. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.60). The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.60 EPS. On average, research analysts predict that Martin Marietta Materials, Inc. will post 19.07 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.55%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.36%.

Wall Street Analysts Forecast Growth

MLM has been the subject of a number of recent research reports. StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. Jefferies Financial Group reduced their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Stephens lowered their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Morgan Stanley raised their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Finally, Truist Financial dropped their price target on shares of 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 analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $619.36.

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.