Paladin Wealth LLC Buys Shares of 1,236 Martin Marietta Materials, Inc. $MLM

Paladin Wealth LLC purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,236 shares of the construction company’s stock, valued at approximately $779,000.

A number of other hedge funds have also modified their holdings of MLM. OFI Invest Asset Management boosted its position in Martin Marietta Materials by 3.0% during the third quarter. OFI Invest Asset Management now owns 55,757 shares of the construction company’s stock valued at $35,143,000 after purchasing an additional 1,622 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Martin Marietta Materials by 65.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 617 shares of the construction company’s stock worth $389,000 after purchasing an additional 243 shares during the last quarter. Brighton Jones LLC purchased a new stake in shares of Martin Marietta Materials during the 3rd quarter worth about $269,000. Thomasville National Bank acquired a new stake in shares of Martin Marietta Materials during the 3rd quarter valued at about $270,000. Finally, Douglas Lane & Associates LLC grew its stake in shares of Martin Marietta Materials by 2.8% in the 3rd quarter. Douglas Lane & Associates LLC now owns 42,703 shares of the construction company’s stock valued at $26,915,000 after buying an additional 1,145 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $632.52 on Tuesday. The company has a market capitalization of $38.15 billion, a PE ratio of 33.34 and a beta of 1.16. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.07. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $665.18. The company’s fifty day moving average price is $618.44 and its 200 day moving average price is $600.11.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing the consensus estimate of $6.62 by ($0.65). Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%.The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $2.06 billion. As a group, analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be issued a $0.83 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio is 17.50%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group raised their price objective on shares of Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research report on Friday, November 7th. DA Davidson set a $690.00 price target on shares of Martin Marietta Materials in a research note on Thursday, November 6th. Jefferies Financial Group lifted their price objective on shares of Martin Marietta Materials from $725.00 to $730.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Raymond James Financial increased their target price on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Finally, Wells Fargo & Company cut their target price on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average target price of $652.19.

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.