Castle Wealth Management LLC Makes New $552,000 Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

Castle Wealth Management LLC bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,025 shares of the construction company's stock, valued at approximately $552,000.

Other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. increased its holdings in Martin Marietta Materials by 411.1% during the second 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 during the last quarter. Asset Dedication LLC boosted its position in 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 during the period. Fortitude Family Office LLC boosted its position in Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company's stock worth $34,000 after purchasing an additional 41 shares during the period. Pathway Financial Advisers LLC bought a new position in Martin Marietta Materials during the first quarter worth $41,000. Finally, Rothschild Investment LLC bought a new position in Martin Marietta Materials during the second quarter worth $43,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

MLM traded down $0.15 on Thursday, hitting $617.16. 516,962 shares of the stock were exchanged, compared to its average volume of 448,493. Martin Marietta Materials, Inc. has a 12 month low of $444.14 and a 12 month high of $633.23. The business has a 50-day moving average of $545.48 and a two-hundred day moving average of $556.16. 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 firm has a market capitalization of $37.72 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 3.86 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data 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). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the company earned $6.94 EPS. The company's revenue for the quarter was down 5.3% compared to the same quarter last year. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 17.95 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. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.79 per share. This is an increase from Martin Marietta Materials's previous quarterly dividend of $0.74. The ex-dividend date was Tuesday, September 3rd. This represents a $3.16 annualized dividend and a yield of 0.51%. Martin Marietta Materials's payout ratio is presently 9.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MLM shares. Jefferies Financial Group reduced 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 research report on Wednesday, October 9th. Truist Financial reduced their price objective 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. UBS Group assumed coverage on shares of Martin Marietta Materials in a research report on Thursday. They set a "buy" rating and a $730.00 price objective for the company. Stephens reduced their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an "overweight" rating for the company in a research report on Friday, August 9th. Finally, Citigroup reduced their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a "buy" rating for the company in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $634.85.

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.