IFP Advisors Inc Grows Stake in Martin Marietta Materials, Inc. $MLM

IFP Advisors Inc boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 34.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,714 shares of the construction company’s stock after purchasing an additional 2,227 shares during the quarter. IFP Advisors Inc’s holdings in Martin Marietta Materials were worth $5,025,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MLM. Lido Advisors LLC grew its holdings in Martin Marietta Materials by 0.8% during the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock valued at $1,209,000 after buying an additional 15 shares in the last quarter. Harbour Investments Inc. lifted its holdings in shares of Martin Marietta Materials by 31.4% in the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock worth $42,000 after buying an additional 16 shares in the last quarter. AMG National Trust Bank boosted its position in shares of 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 last quarter. Quadrant Capital Group LLC boosted its position in shares of Martin Marietta Materials by 0.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock worth $1,361,000 after acquiring an additional 17 shares during the last quarter. Finally, AlTi Global Inc. grew its stake in Martin Marietta Materials by 1.2% during the first quarter. AlTi Global Inc. now owns 1,496 shares of the construction company’s stock valued at $881,000 after acquiring an additional 18 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MLM has been the topic of a number of research reports. Wolfe Research set a $648.00 price target on shares of Martin Marietta Materials in a report on Tuesday, August 4th. Sanford C. Bernstein downgraded shares of Martin Marietta Materials to an “underweight” rating in a report on Wednesday, September 2nd. Royal Bank Of Canada raised their price objective on Martin Marietta Materials from $610.00 to $620.00 and gave the company a “sector perform” rating in a research report on Friday, August 28th. Citigroup reduced their target price on Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Finally, Wall Street Zen downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Tuesday, July 28th. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $667.53.

Martin Marietta Materials Trading Up 0.0%

Shares of MLM opened at $503.00 on Friday. The stock has a market capitalization of $30.22 billion, a PE ratio of 12.36, a P/E/G ratio of 2.17 and a beta of 1.10. The company’s fifty day moving average is $546.65 and its 200 day moving average is $580.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.73 and a current ratio of 1.41. Martin Marietta Materials, Inc. has a fifty-two week low of $491.61 and a fifty-two week high of $710.97.

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

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.84 per share. The ex-dividend date is Tuesday, September 1st. This represents a $3.36 annualized dividend and a dividend yield of 0.7%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. Martin Marietta Materials’s dividend payout ratio is currently 8.26%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc is a U.S.-based supplier of construction aggregates and other building materials. The company produces crushed stone, sand and gravel used in infrastructure, commercial, residential and industrial construction projects.

Its products and services also include cement, ready-mixed concrete, asphalt and paving materials. Martin Marietta serves customers involved in roads, bridges, airports, buildings and other essential infrastructure, with operations concentrated across several regions of the United States.

The company was established in 1993 as an independent, publicly traded materials business formed from the construction materials operations of Martin Marietta Corporation.