BIP Wealth LLC Makes New $229,000 Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

BIP Wealth LLC bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 425 shares of the construction company’s stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MLM. Ameritas Advisory Services LLC boosted its position in Martin Marietta Materials by 2.8% during 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 3rd quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock valued at $1,144,000 after purchasing an additional 19 shares during the period. Mather Group LLC. boosted its position in shares of Martin Marietta Materials by 13.6% during the second quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after purchasing an additional 20 shares in the last quarter. TFG Advisers LLC grew its stake in Martin Marietta Materials by 3.7% in the second quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock worth $300,000 after purchasing an additional 20 shares during the period. Finally, Meiji Yasuda Life Insurance Co raised its holdings in Martin Marietta Materials by 3.0% in the second quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock worth $368,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Friday, November 8th. UBS Group started coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 price objective on the stock. Loop Capital raised 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, October 31st. Truist Financial dropped 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. Finally, Citigroup cut their price target on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.85.

Martin Marietta Materials Trading Up 0.2 %

Shares of NYSE:MLM opened at $582.68 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. Martin Marietta Materials, Inc. has a 1 year low of $451.37 and a 1 year high of $633.23. The company has a market cap of $35.61 billion, a P/E ratio of 18.16, a PEG ratio of 3.90 and a beta of 0.90. The stock’s fifty day moving average price is $559.08 and its 200-day moving average price is $556.37.

Martin Marietta Materials (NYSE:MLM) last posted its 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). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company posted $6.94 EPS. Martin Marietta Materials’s revenue was down 5.3% on a year-over-year basis. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 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.