Stoneridge Investment Partners LLC Makes New $532,000 Investment in Martin Marietta Materials, Inc. $MLM

Stoneridge Investment Partners LLC acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,014 shares of the construction company’s stock, valued at approximately $532,000.

Other hedge funds have also recently modified their holdings of the company. Lido Advisors LLC grew its holdings in shares of Martin Marietta Materials by 0.8% in the fourth quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock valued at $1,209,000 after acquiring an additional 15 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its position in shares of Martin Marietta Materials by 3.9% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock valued at $264,000 after acquiring an additional 16 shares during the last quarter. Harbour Investments Inc. lifted its holdings in Martin Marietta Materials by 31.4% during the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock worth $42,000 after acquiring an additional 16 shares during the period. AMG National Trust Bank lifted its holdings in Martin Marietta Materials by 3.6% during the first quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock worth $291,000 after acquiring an additional 17 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in Martin Marietta Materials by 0.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock worth $1,361,000 after purchasing an additional 17 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

MLM has been the subject of a number of recent analyst reports. Oppenheimer started coverage on Martin Marietta Materials in a research note on Thursday, May 28th. They issued a “market perform” rating for the company. Morgan Stanley lowered their target price on Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating on the stock in a research note on Thursday. Royal Bank Of Canada lowered their target price on Martin Marietta Materials from $615.00 to $610.00 and set a “sector perform” rating on the stock in a research note on Monday, August 3rd. Wall Street Zen downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Tuesday, July 28th. Finally, Truist Financial increased their price target on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $668.53.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $549.01 on Friday. The business’s 50 day simple moving average is $572.88 and its 200 day simple moving average is $600.18. Martin Marietta Materials, Inc. has a 12 month low of $523.48 and a 12 month high of $710.97. The company has a market cap of $32.98 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 2.34 and a beta of 1.11. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.76 by $0.24. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The business’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period last year, the business posted $5.43 earnings per share. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be issued a $0.84 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.36 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s payout ratio is 8.16%.

Martin Marietta Materials Company 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.