Stephens Inc. AR Purchases 2,788 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Stephens Inc. AR increased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 7.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,619 shares of the construction company's stock after acquiring an additional 2,788 shares during the period. Stephens Inc. AR owned about 0.07% of Martin Marietta Materials worth $21,863,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Newbridge Financial Services Group Inc. increased its holdings in 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 last quarter. Asset Dedication LLC increased its stake 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 purchasing an additional 52 shares in the last quarter. Fortitude Family Office LLC raised its position in shares of Martin Marietta Materials by 186.4% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company's stock valued at $34,000 after purchasing an additional 41 shares during the period. Pathway Financial Advisers LLC purchased a new stake in shares of Martin Marietta Materials during the 1st quarter valued at approximately $41,000. Finally, Rothschild Investment LLC bought a new position in Martin Marietta Materials in the 2nd quarter worth approximately $43,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MLM shares. Jefferies Financial Group dropped their target price 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. Stephens cut their target price on Martin Marietta Materials from $650.00 to $610.00 and set an "overweight" rating for the company in a research note on Friday, August 9th. Truist Financial decreased their price target on 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. Finally, Loop Capital upped their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a "buy" rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $626.92.

Martin Marietta Materials Price Performance

Shares of NYSE MLM traded down $12.20 during mid-day trading on Friday, reaching $580.14. 496,585 shares of the company were exchanged, compared to its average volume of 444,803. Martin Marietta Materials, Inc. has a 52 week low of $438.53 and a 52 week high of $626.67. The company's 50 day moving average price is $540.91 and its 200 day moving average price is $556.38. The stock has a market capitalization of $35.46 billion, a PE ratio of 18.31, a PEG ratio of 5.11 and a beta of 0.91. The company has a quick ratio of 0.94, a current ratio of 2.34 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued 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 firm had revenue of $1.89 billion for 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% on a year-over-year basis. During the same period last year, the firm earned $6.94 EPS. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 18.61 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.79 per share. The ex-dividend date was Tuesday, September 3rd. This is an increase from Martin Marietta Materials's previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. Martin Marietta Materials's dividend payout ratio (DPR) 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.