Gilbert & Cook Inc. Lowers Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Gilbert & Cook Inc. lowered its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,302 shares of the construction company’s stock after selling 87 shares during the period. Gilbert & Cook Inc.’s holdings in Martin Marietta Materials were worth $705,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Riverview Trust Co purchased a new position in Martin Marietta Materials during the first quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Martin Marietta Materials in the 4th quarter valued at $25,000. Redmont Wealth Advisors LLC purchased a new stake in Martin Marietta Materials during the first quarter worth $31,000. Benjamin Edwards Inc. grew its position in Martin Marietta Materials by 78.8% during the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after buying an additional 26 shares during the period. Finally, Fortitude Family Office LLC grew its position in Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after buying an additional 41 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MLM. Stifel Nicolaus lowered their target price on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Morgan Stanley increased their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Truist Financial cut their price objective on 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. Stephens decreased their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Finally, Jefferies Financial Group boosted their price target on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $629.82.

Martin Marietta Materials Trading Up 1.9 %

NYSE MLM traded up $10.17 on Monday, reaching $534.16. The stock had a trading volume of 538,800 shares, compared to its average volume of 445,783. Martin Marietta Materials, Inc. has a 12-month low of $389.90 and a 12-month high of $626.67. The stock has a fifty day moving average price of $545.93 and a two-hundred day moving average price of $571.02. The firm has a market capitalization of $32.65 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 3.57 and a beta of 0.91. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.36 by ($0.60). The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. Martin Marietta Materials’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $5.60 EPS. As a group, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 20.01 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a $0.79 dividend. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date is Tuesday, September 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.59%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.77%.

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.