Hazlett Burt & Watson Inc. Increases Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Hazlett Burt & Watson Inc. increased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 10.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,200 shares of the construction company’s stock after purchasing an additional 115 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Martin Marietta Materials were worth $646,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. increased its position in Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after acquiring an additional 37 shares during the last quarter. Asset Dedication LLC grew its holdings in Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. Fortitude Family Office LLC raised its position in 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 purchasing an additional 41 shares during the period. Pathway Financial Advisers LLC purchased a new stake in Martin Marietta Materials in the 1st quarter worth about $41,000. Finally, Rothschild Investment LLC bought a new stake in Martin Marietta Materials in the second quarter worth about $43,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 0.3 %

Shares of MLM traded up $1.60 during mid-day trading on Monday, hitting $581.74. The company’s stock had a trading volume of 81,135 shares, compared to its average volume of 443,095. The company has a current ratio of 2.34, a quick ratio of 0.94 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average is $541.37 and its 200-day moving average is $555.72. Martin Marietta Materials, Inc. has a 52-week low of $438.89 and a 52-week high of $626.67. The firm has a market capitalization of $35.56 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 5.04 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the company earned $6.94 EPS. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 18.48 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $0.79 dividend. 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 dividend on an annualized basis and a yield of 0.54%. Martin Marietta Materials’s payout ratio is currently 9.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MLM shares. Jefferies Financial Group reduced their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Stephens reduced their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Loop Capital boosted 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 note on Thursday. Truist Financial cut their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Barclays lifted their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $626.92.

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.