CWA Asset Management Group LLC Invests $719,000 in Martin Marietta Materials, Inc. (NYSE:MLM)

CWA Asset Management Group LLC purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,335 shares of the construction company's stock, valued at approximately $719,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. lifted its stake in Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company's stock worth $25,000 after acquiring an additional 37 shares during the period. Asset Dedication LLC lifted its position in shares of Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company's stock worth $30,000 after buying an additional 52 shares in the last quarter. Fortitude Family Office LLC raised its holdings in Martin Marietta Materials by 186.4% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company's stock valued at $34,000 after buying an additional 41 shares during the period. Pathway Financial Advisers LLC bought a new position in Martin Marietta Materials in the 1st quarter valued at $41,000. Finally, Rothschild Investment LLC bought a new stake in shares of Martin Marietta Materials in the second quarter valued at about $43,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

Shares of MLM stock traded up $0.08 during trading hours on Monday, reaching $619.66. The company's stock had a trading volume of 223,237 shares, compared to its average volume of 447,250. The company has a market capitalization of $37.87 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 4.14 and a beta of 0.90. Martin Marietta Materials, Inc. has a fifty-two week low of $451.37 and a fifty-two week high of $633.23. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The firm's 50 day simple moving average is $549.06 and its 200-day simple moving average is $556.31.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts' consensus estimates of $6.41 by ($0.50). The business had revenue of $1.89 billion for 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%. The company's revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $6.94 EPS. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials's payout ratio is currently 9.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. UBS Group assumed coverage on Martin Marietta Materials in a research report on Thursday. They set a "buy" rating and a $730.00 price objective for the company. Stephens dropped their price target on Martin Marietta Materials from $650.00 to $610.00 and set an "overweight" rating for the company in a report on Friday, August 9th. Barclays lifted their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. dropped 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. Finally, Loop Capital boosted their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $634.85.

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.