Pinnacle Financial Partners Inc Buys 184 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Pinnacle Financial Partners Inc boosted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 46.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 581 shares of the construction company’s stock after purchasing an additional 184 shares during the period. Pinnacle Financial Partners Inc’s holdings in Martin Marietta Materials were worth $313,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. QRG Capital Management Inc. grew its stake in shares of Martin Marietta Materials by 27.2% during the 1st quarter. QRG Capital Management Inc. now owns 1,770 shares of the construction company’s stock valued at $1,087,000 after acquiring an additional 379 shares during the period. Avantax Advisory Services Inc. bought a new position in shares of Martin Marietta Materials in the first quarter worth approximately $276,000. HBK Sorce Advisory LLC purchased a new stake in shares of Martin Marietta Materials in the first quarter worth $249,000. Blair William & Co. IL raised its position in shares of Martin Marietta Materials by 4.9% during the 1st quarter. Blair William & Co. IL now owns 7,683 shares of the construction company’s stock valued at $4,717,000 after purchasing an additional 359 shares during the period. Finally, Dorsey & Whitney Trust CO LLC purchased a new position in shares of Martin Marietta Materials during the 1st quarter valued at $317,000. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

MLM has been the subject of a number of analyst reports. Morgan Stanley increased their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. UBS Group initiated coverage on Martin Marietta Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $730.00 target price for the company. Stephens lowered their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Jefferies Financial Group cut their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, Truist Financial reduced their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $634.85.

Martin Marietta Materials Stock Down 2.9 %

Shares of NYSE:MLM opened at $587.96 on Friday. The company has a market cap of $35.93 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 4.05 and a beta of 0.90. Martin Marietta Materials, Inc. has a 12 month low of $451.37 and a 12 month high of $633.23. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $554.32 and a 200 day moving average price of $556.80.

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

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.85%.

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.