Group One Trading LLC Acquires New Shares in Martin Marietta Materials, Inc. $MLM

Group One Trading LLC bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,795 shares of the construction company’s stock, valued at approximately $1,035,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Martin Marietta Materials in the 2nd quarter worth approximately $2,706,134,000. Victory Capital Management Inc. lifted its holdings in shares of Martin Marietta Materials by 51.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock valued at $1,524,853,000 after buying an additional 836,120 shares during the period. Bank of America Corp DE boosted its stake in shares of Martin Marietta Materials by 0.9% in the 1st quarter. Bank of America Corp DE now owns 2,399,779 shares of the construction company’s stock worth $1,412,702,000 after buying an additional 21,310 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Martin Marietta Materials by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,553,364 shares of the construction company’s stock worth $963,406,000 after buying an additional 10,743 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Martin Marietta Materials by 5.3% in the fourth quarter. Morgan Stanley now owns 1,367,016 shares of the construction company’s stock worth $851,188,000 after acquiring an additional 68,382 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 0.4%

MLM stock opened at $532.96 on Tuesday. The business’s 50-day moving average price is $568.55 and its 200-day moving average price is $594.70. The stock has a market cap of $32.01 billion, a P/E ratio of 13.09, a PEG ratio of 2.31 and a beta of 1.11. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a twelve month low of $522.19 and a twelve month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping analysts’ consensus estimates of $4.76 by $0.24. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The firm’s revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the business earned $5.43 EPS. On average, equities research 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 announced 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. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.36 annualized dividend and a yield of 0.6%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. Martin Marietta Materials’s payout ratio is currently 8.16%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wells Fargo & Company reduced their price objective on Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating for the company in a research report on Friday, July 31st. JPMorgan Chase & Co. dropped their target price on Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Weiss Ratings downgraded Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Truist Financial increased their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, UBS Group decreased their price target on shares of Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Ten equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $665.29.

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.