Martin Marietta Materials, Inc. (NYSE:MLM) Stock Holdings Increased by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 54.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 467,782 shares of the construction company's stock after purchasing an additional 164,503 shares during the period. Diamond Hill Capital Management Inc. owned 0.77% of Martin Marietta Materials worth $251,784,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MLM. Newbridge Financial Services Group Inc. increased its holdings in shares of Martin Marietta Materials by 411.1% in the 2nd 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 increased its holdings in shares of Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company's stock worth $30,000 after acquiring an additional 52 shares during the period. First Personal Financial Services acquired a new stake in shares of Martin Marietta Materials in the 3rd quarter worth about $33,000. Fortitude Family Office LLC increased its holdings in shares of Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company's stock worth $34,000 after acquiring an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Martin Marietta Materials in the 1st quarter worth about $41,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MLM has been the subject of a number of recent analyst reports. Loop Capital increased their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Barclays increased their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. Stephens decreased 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. Truist Financial decreased their target price 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. Finally, Jefferies Financial Group decreased their target price 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. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $634.85.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM traded down $1.59 during trading hours on Monday, hitting $617.99. 126,608 shares of the company's stock traded hands, compared to its average volume of 446,806. Martin Marietta Materials, Inc. has a 52 week low of $451.37 and a 52 week high of $633.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The company's fifty day simple moving average is $549.06 and its two-hundred day simple moving average is $556.31. The company has a market cap of $37.77 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 4.14 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS 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 during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the business earned $6.94 earnings per share. The business's quarterly revenue was down 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced 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. This represents a $3.16 annualized dividend 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 9.85%.

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.