Martin Marietta Materials, Inc. (NYSE:MLM) Stock Holdings Lifted by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 24.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 46,250 shares of the construction company’s stock after buying an additional 9,233 shares during the quarter. Russell Investments Group Ltd.’s holdings in Martin Marietta Materials were worth $21,256,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. WealthPLAN Partners LLC bought a new stake in Martin Marietta Materials in the 1st quarter valued at about $55,000. Global Retirement Partners LLC lifted its position in Martin Marietta Materials by 42.8% in the 1st quarter. Global Retirement Partners LLC now owns 434 shares of the construction company’s stock valued at $160,000 after purchasing an additional 130 shares during the last quarter. Forum Financial Management LP lifted its position in Martin Marietta Materials by 17.1% in the 2nd quarter. Forum Financial Management LP now owns 1,411 shares of the construction company’s stock valued at $651,000 after purchasing an additional 206 shares during the last quarter. Guggenheim Capital LLC lifted its position in Martin Marietta Materials by 2.7% in the 1st quarter. Guggenheim Capital LLC now owns 4,527 shares of the construction company’s stock valued at $1,607,000 after purchasing an additional 118 shares during the last quarter. Finally, Creative Planning lifted its position in Martin Marietta Materials by 20.8% in the 2nd quarter. Creative Planning now owns 7,853 shares of the construction company’s stock valued at $3,626,000 after purchasing an additional 1,353 shares during the last quarter. 93.22% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $455.21 on Tuesday. The firm’s 50 day simple moving average is $427.35 and its 200-day simple moving average is $432.31. The company has a market cap of $28.14 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 1.17 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 1.60. Martin Marietta Materials, Inc. has a fifty-two week low of $317.94 and a fifty-two week high of $468.50.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, November 1st. The construction company reported $6.94 earnings per share for the quarter, topping the consensus estimate of $6.04 by $0.90. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Martin Marietta Materials had a net margin of 16.10% and a return on equity of 14.89%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $4.69 earnings per share. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 18.22 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, November 30th. Martin Marietta Materials’s dividend payout ratio is currently 17.18%.

Analysts Set New Price Targets

Several brokerages recently weighed in on MLM. Barclays lifted their price objective on shares of Martin Marietta Materials from $430.00 to $490.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Seaport Res Ptn upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating in a research report on Wednesday, October 25th. HSBC began coverage on shares of Martin Marietta Materials in a research note on Friday, September 15th. They set a “reduce” rating and a $376.00 target price on the stock. Truist Financial raised their target price on shares of Martin Marietta Materials from $446.00 to $550.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Stephens raised their target price on shares of Martin Marietta Materials from $525.00 to $540.00 and gave the company an “overweight” rating in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $471.79.

About Martin Marietta Materials

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.