Citizens Financial Group Inc. RI Takes Position in Martin Marietta Materials, Inc. $MLM

Citizens Financial Group Inc. RI acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,303 shares of the construction company’s stock, valued at approximately $752,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Martin Marietta Materials during the 2nd quarter valued at about $2,706,134,000. Victory Capital Management Inc. lifted its stake in shares of Martin Marietta Materials by 51.8% in the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after purchasing an additional 836,120 shares during the period. Norges Bank purchased a new position in shares of Martin Marietta Materials in the fourth quarter worth approximately $354,681,000. Bank of America Corp DE boosted its holdings in shares of Martin Marietta Materials by 31.9% in the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after buying an additional 565,856 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Martin Marietta Materials during the second quarter valued at approximately $199,321,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $524.52 on Wednesday. The company has a market capitalization of $31.51 billion, a P/E ratio of 12.89, a P/E/G ratio of 2.37 and a beta of 1.11. Martin Marietta Materials, Inc. has a 1-year low of $522.19 and a 1-year high of $710.97. The firm’s 50 day simple moving average is $571.62 and its two-hundred day simple moving average is $598.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.76 by $0.24. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the prior year, the company posted $5.43 earnings per share. Research analysts expect that Martin Marietta Materials, Inc. will post 19.07 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is currently 8.16%.

Wall Street Analysts Forecast Growth

MLM has been the subject of a number of research reports. Oppenheimer began coverage on shares of Martin Marietta Materials in a report on Thursday, May 28th. They set a “market perform” rating for the company. Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, July 28th. Berenberg Bank set a $556.00 price objective on shares of Martin Marietta Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. Weiss Ratings lowered Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Finally, Stephens decreased their target price on Martin Marietta Materials from $700.00 to $680.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $668.53.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.