Paladin Wealth LLC Acquires New Holdings in Martin Marietta Materials, Inc. $MLM

Paladin Wealth LLC acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,236 shares of the construction company’s stock, valued at approximately $779,000.

Several other large investors have also recently bought and sold shares of the stock. OFI Invest Asset Management lifted its stake in shares of Martin Marietta Materials by 3.0% in the 3rd quarter. OFI Invest Asset Management now owns 55,757 shares of the construction company’s stock worth $35,143,000 after acquiring an additional 1,622 shares during the period. Exchange Traded Concepts LLC raised its holdings in Martin Marietta Materials by 65.0% during the third quarter. Exchange Traded Concepts LLC now owns 617 shares of the construction company’s stock worth $389,000 after purchasing an additional 243 shares in the last quarter. Brighton Jones LLC acquired a new stake in Martin Marietta Materials in the third quarter worth approximately $269,000. Thomasville National Bank bought a new position in Martin Marietta Materials during the 3rd quarter valued at $270,000. Finally, Douglas Lane & Associates LLC increased its position in shares of Martin Marietta Materials by 2.8% during the 3rd quarter. Douglas Lane & Associates LLC now owns 42,703 shares of the construction company’s stock valued at $26,915,000 after purchasing an additional 1,145 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on MLM shares. Raymond James Financial upped their price objective on Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Barclays lifted their price objective on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Stifel Nicolaus increased their target price on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. UBS Group increased their price objective on Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Jefferies Financial Group boosted their target price on Martin Marietta Materials from $725.00 to $730.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $652.19.

Martin Marietta Materials Price Performance

MLM opened at $632.52 on Tuesday. The stock has a fifty day moving average of $618.44 and a 200-day moving average of $600.11. The firm has a market capitalization of $38.15 billion, a P/E ratio of 33.34 and a beta of 1.16. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $665.18. The company has a quick ratio of 2.07, a current ratio of 2.97 and a debt-to-equity ratio of 0.54.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Martin Marietta Materials had a net margin of 17.34% and a return on equity of 11.68%. Equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be issued a $0.83 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials’s dividend payout ratio is currently 17.50%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value?added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready?mixed concrete and related materials and services.