Haverford Trust Co Takes $202,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Haverford Trust Co bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 375 shares of the construction company’s stock, valued at approximately $202,000.

Several other hedge funds have also recently modified their holdings of MLM. Newbridge Financial Services Group Inc. increased its stake in Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after buying an additional 37 shares in the last quarter. Asset Dedication LLC increased its position in shares of Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares in the last quarter. First Personal Financial Services acquired a new position in Martin Marietta Materials in the 3rd quarter valued at $33,000. Fortitude Family Office LLC lifted its holdings in Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after purchasing an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in Martin Marietta Materials in the 1st quarter valued at $41,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MLM shares. Barclays increased their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. UBS Group started coverage on Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Jefferies Financial Group reduced their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Finally, Citigroup dropped their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $634.85.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $587.96 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The company has a market cap of $35.93 billion, a P/E ratio of 18.32, a P/E/G ratio of 4.05 and a beta of 0.90. The stock has a 50-day moving average of $554.32 and a two-hundred day moving average of $556.80. Martin Marietta Materials, Inc. has a 1-year low of $451.37 and a 1-year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. Martin Marietta Materials’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $6.94 earnings per share. As a group, analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s payout ratio is currently 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.