Jefferies Financial Group Inc. Purchases New Stake in Martin Marietta Materials, Inc. $MLM

Jefferies Financial Group Inc. purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the second quarter, Holdings Channel reports. The firm purchased 1,624 shares of the construction company’s stock, valued at approximately $937,000.

Other institutional investors have also recently bought and sold shares of the company. Lido Advisors LLC grew its holdings in shares of Martin Marietta Materials by 0.8% during the fourth 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 during the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in shares of Martin Marietta Materials by 3.9% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock worth $264,000 after acquiring an additional 16 shares during the last quarter. Harbour Investments Inc. lifted its position in Martin Marietta Materials by 31.4% in the 4th quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock valued at $42,000 after acquiring an additional 16 shares in the last quarter. AMG National Trust Bank lifted its position in Martin Marietta Materials by 3.6% in the 1st quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock valued at $291,000 after acquiring an additional 17 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Martin Marietta Materials by 0.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock valued at $1,361,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 0.0%

MLM stock opened at $531.11 on Monday. The stock has a fifty day moving average of $562.81 and a 200-day moving average of $590.46. Martin Marietta Materials, Inc. has a fifty-two week low of $522.19 and a fifty-two week high of $710.97. The company has a market capitalization of $31.90 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 2.29 and a beta of 1.11. 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 (NYSE:MLM) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.76 by $0.24. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the business posted $5.43 EPS. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm 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 a boost 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%.

Analyst Upgrades and Downgrades

MLM has been the subject of a number of recent research reports. Truist Financial boosted their price objective on Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Wells Fargo & Company dropped their price target on shares of Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating on the stock in a research report on Friday, July 31st. Royal Bank Of Canada boosted their price target on shares of Martin Marietta Materials from $610.00 to $620.00 and gave the stock a “sector perform” rating in a report on Friday. Weiss Ratings downgraded shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Finally, Morgan Stanley decreased their price objective on shares of Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $665.88.

About Martin Marietta Materials

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.