NewEdge Wealth LLC Purchases Shares of 1,788 Martin Marietta Materials, Inc. $MLM

NewEdge Wealth LLC purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,788 shares of the construction company’s stock, valued at approximately $1,031,000.

Several other institutional investors have also recently made changes to their positions in MLM. Lido Advisors LLC grew its stake in shares of Martin Marietta Materials by 0.8% during the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock valued at $1,209,000 after acquiring an additional 15 shares during the period. Ashton Thomas Private Wealth LLC raised its stake in Martin Marietta Materials by 3.9% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock worth $264,000 after acquiring an additional 16 shares during the period. Harbour Investments Inc. lifted its holdings in Martin Marietta Materials by 31.4% during the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock valued at $42,000 after purchasing an additional 16 shares in the last quarter. AMG National Trust Bank lifted its holdings in Martin Marietta Materials by 3.6% during the first quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock valued at $291,000 after purchasing an additional 17 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Martin Marietta Materials by 0.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock worth $1,361,000 after purchasing an additional 17 shares during the period. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 1.9%

Shares of MLM opened at $535.28 on Friday. The firm has a market cap of $32.15 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 2.27 and a beta of 1.11. 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, Inc. has a 1 year low of $522.19 and a 1 year high of $710.97. The company has a 50 day simple moving average of $569.66 and a two-hundred day simple moving average of $596.04.

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

Martin Marietta Materials Increases Dividend

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

Wall Street Analysts Forecast Growth

MLM has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Wells Fargo & Company dropped their target price on shares of Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating for the company in a report on Friday, July 31st. Wall Street Zen lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, July 28th. Royal Bank Of Canada decreased their price target on Martin Marietta Materials from $615.00 to $610.00 and set a “sector perform” rating on the stock in a report on Monday, August 3rd. Finally, Citigroup lowered their price objective on Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Ten research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.