GDS Wealth Management Purchases New Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

GDS Wealth Management purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,772 shares of the construction company's stock, valued at approximately $2,030,000.

Other hedge funds have also made changes to their positions in the company. Ameritas Advisory Services LLC raised its stake in shares of Martin Marietta Materials by 2.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company's stock valued at $360,000 after acquiring an additional 18 shares in the last quarter. Inspire Investing LLC lifted its stake in shares of Martin Marietta Materials by 0.9% in the third quarter. Inspire Investing LLC now owns 2,126 shares of the construction company's stock worth $1,144,000 after buying an additional 19 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Martin Marietta Materials by 13.6% during the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company's stock worth $90,000 after buying an additional 20 shares during the period. TFG Advisers LLC grew its stake in Martin Marietta Materials by 3.7% in the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company's stock valued at $300,000 after buying an additional 20 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co raised its holdings in Martin Marietta Materials by 3.0% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company's stock worth $368,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock traded down $0.90 during mid-day trading on Monday, reaching $618.68. 201,174 shares of the stock were exchanged, compared to its average volume of 447,148. 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 market cap of $37.81 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 4.14 and a beta of 0.90. The firm has a 50-day simple moving average of $549.06 and a 200 day simple moving average of $556.31. 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 (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). The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business's quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $6.94 EPS. On average, sell-side analysts predict that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MLM shares. Truist Financial dropped their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. cut their price objective on shares of Martin Marietta Materials from $560.00 to $515.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. BNP Paribas raised Martin Marietta Materials to a "strong-buy" rating in a research report on Thursday, September 19th. Stephens cut 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. Finally, Loop Capital lifted their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Four 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $634.85.

Martin Marietta Materials Company 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.