1,034 Shares in Martin Marietta Materials, Inc. (NYSE:MLM) Acquired by Forte Capital LLC ADV

Forte Capital LLC ADV 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 & Exchange Commission. The fund purchased 1,034 shares of the construction company's stock, valued at approximately $557,000.

Several other institutional investors have also modified their holdings of the business. M&G PLC grew its stake in Martin Marietta Materials by 5.2% during the 3rd quarter. M&G PLC now owns 66,840 shares of the construction company's stock valued at $35,960,000 after purchasing an additional 3,311 shares in the last quarter. Marks Group Wealth Management Inc grew its position in shares of Martin Marietta Materials by 55.7% during the third quarter. Marks Group Wealth Management Inc now owns 707 shares of the construction company's stock worth $381,000 after buying an additional 253 shares in the last quarter. Heritage Investors Management Corp increased its stake in shares of Martin Marietta Materials by 0.4% in the third quarter. Heritage Investors Management Corp now owns 63,437 shares of the construction company's stock worth $34,145,000 after buying an additional 247 shares during the last quarter. Amalgamated Bank increased its stake in shares of Martin Marietta Materials by 1.1% in the third quarter. Amalgamated Bank now owns 12,625 shares of the construction company's stock worth $6,795,000 after buying an additional 139 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in Martin Marietta Materials by 10.6% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,200 shares of the construction company's stock valued at $646,000 after acquiring an additional 115 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Wall Street Analysts Forecast Growth

MLM has been the subject of several research analyst reports. UBS Group initiated coverage on shares of Martin Marietta Materials in a research report on Thursday. They issued a "buy" rating and a $730.00 target price for the company. JPMorgan Chase & Co. cut 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. Truist Financial reduced their target price on Martin Marietta Materials from $700.00 to $670.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Jefferies Financial Group dropped their price target on Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating on the stock in a research report on Wednesday, October 9th. Finally, StockNews.com upgraded Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Martin Marietta Materials currently has an average rating of "Moderate Buy" and a consensus price target of $634.85.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM traded up $2.39 during midday trading on Friday, hitting $619.55. 402,753 shares of the company's stock were exchanged, compared to its average volume of 466,622. Martin Marietta Materials, Inc. has a twelve month low of $448.73 and a twelve month high of $633.23. The firm has a market cap of $37.87 billion, a P/E ratio of 19.31, a PEG ratio of 4.12 and a beta of 0.90. The stock's 50 day moving average price is $549.06 and its 200-day moving average price is $556.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $6.94 EPS. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 EPS for the current year.

Martin Marietta Materials Announces Dividend

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

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.