D.A. Davidson & CO. Buys 1,014 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

D.A. Davidson & CO. raised its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 8.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,936 shares of the construction company's stock after purchasing an additional 1,014 shares during the period. D.A. Davidson & CO.'s holdings in Martin Marietta Materials were worth $6,963,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MLM. Kovack Advisors Inc. acquired a new stake in shares of Martin Marietta Materials in the third quarter valued at about $734,000. Peak Financial Advisors LLC bought a new position in Martin Marietta Materials during the second quarter worth about $2,710,000. Bank of New York Mellon Corp boosted its holdings in Martin Marietta Materials by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company's stock valued at $252,318,000 after purchasing an additional 11,749 shares in the last quarter. ING Groep NV acquired a new stake in Martin Marietta Materials during the third quarter valued at approximately $1,601,000. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Martin Marietta Materials by 27.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,278 shares of the construction company's stock valued at $3,943,000 after purchasing an additional 1,549 shares during the period. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Trading Down 0.2 %

Shares of NYSE:MLM traded down $1.37 during mid-day trading on Thursday, reaching $595.60. The stock had a trading volume of 379,164 shares, compared to its average volume of 447,454. The firm has a market cap of $36.40 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 4.10 and a beta of 0.90. The firm has a 50 day simple moving average of $570.11 and a two-hundred day simple moving average of $556.63. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a twelve month low of $456.83 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts' consensus estimates 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 business earned $6.94 earnings per share. The company's revenue for the quarter was down 5.3% compared to the same quarter last year. On average, research analysts predict that Martin Marietta Materials, Inc. will post 17.58 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.53%. Martin Marietta Materials's dividend payout ratio (DPR) is currently 9.85%.

Analyst Upgrades and Downgrades

MLM has been the subject of a number of research analyst reports. UBS Group started coverage on Martin Marietta Materials in a report on Thursday, November 7th. They issued a "buy" rating and a $730.00 price target for the company. Barclays increased their price target on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an "overweight" rating in a research note on Tuesday, October 29th. Truist Financial dropped 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. Morgan Stanley increased their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the company an "overweight" rating in a research report on Monday, August 26th. Finally, Loop Capital boosted their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Martin Marietta Materials currently has an average rating of "Moderate Buy" and an average price target of $644.46.

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.