Fenimore Asset Management Inc Raises Stock Position in Martin Marietta Materials, Inc. $MLM

Fenimore Asset Management Inc grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,370 shares of the construction company’s stock after buying an additional 1,224 shares during the quarter. Fenimore Asset Management Inc’s holdings in Martin Marietta Materials were worth $42,881,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Valeo Financial Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 5.5% in the 3rd quarter. Valeo Financial Advisors LLC now owns 3,057 shares of the construction company’s stock worth $1,467,000 after purchasing an additional 158 shares in the last quarter. Heartwood Wealth Advisors LLC raised its holdings in shares of Martin Marietta Materials by 15.5% during the 3rd quarter. Heartwood Wealth Advisors LLC now owns 477 shares of the construction company’s stock valued at $229,000 after buying an additional 64 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Martin Marietta Materials by 9.8% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,123 shares of the construction company’s stock valued at $539,000 after buying an additional 100 shares in the last quarter. Polaris Financial Partners bought a new stake in Martin Marietta Materials in the 3rd quarter worth approximately $104,000. Finally, Burkett Financial Services LLC lifted its position in Martin Marietta Materials by 292.6% in the 3rd quarter. Burkett Financial Services LLC now owns 106 shares of the construction company’s stock worth $51,000 after buying an additional 79 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MLM. DA Davidson began coverage on Martin Marietta Materials in a research note on Monday, August 24th. They issued a “neutral” rating and a $625.00 target price for the company. Morgan Stanley lowered 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 report on Thursday, August 13th. Sanford C. Bernstein cut shares of Martin Marietta Materials to an “underweight” rating in a research note on Wednesday, September 2nd. Royal Bank Of Canada increased their target price on shares of Martin Marietta Materials from $610.00 to $620.00 and gave the company a “sector perform” rating in a report on Friday, August 28th. Finally, Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Tuesday, July 28th. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target of $651.76.

Martin Marietta Materials Trading Up 0.6%

MLM stock traded up $2.87 during trading on Thursday, hitting $481.88. 703,776 shares of the company traded hands, compared to its average volume of 593,610. The company has a 50-day moving average of $515.87 and a 200-day moving average of $561.70. 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 1 year low of $470.19 and a 1 year high of $710.97. The firm has a market capitalization of $28.95 billion, a PE ratio of 11.84, a P/E/G ratio of 2.33 and a beta of 1.08.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly 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. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm earned $5.43 EPS. The business’s quarterly revenue was up 21.0% on a year-over-year basis. Analysts predict that Martin Marietta Materials, Inc. will post 17.77 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were paid a $0.84 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 annualized dividend and a dividend yield of 0.7%. Martin Marietta Materials’s payout ratio is presently 8.26%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc is a producer and supplier of construction materials used in infrastructure, commercial, residential, and industrial projects. The company’s principal products include crushed stone, sand, gravel, cement, ready-mixed concrete, asphalt, and related paving materials.

The company serves customers primarily across the United States, with operations concentrated in major markets experiencing demand for transportation infrastructure, building construction, and other development projects.