Griffin Asset Management Inc. Acquires 2,000 Shares of Martin Marietta Materials, Inc. $MLM

Griffin Asset Management Inc. lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 93.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,150 shares of the construction company’s stock after purchasing an additional 2,000 shares during the period. Griffin Asset Management Inc.’s holdings in Martin Marietta Materials were worth $2,584,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MLM. Optima Capital LLC bought a new position in shares of Martin Marietta Materials in the 4th quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Martin Marietta Materials in the 3rd quarter worth approximately $27,000. Redmont Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials in the 3rd quarter worth approximately $32,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials in the 3rd quarter worth approximately $33,000. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Martin Marietta Materials in the 4th quarter worth approximately $36,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 1.6%

Shares of MLM opened at $541.32 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. Martin Marietta Materials, Inc. has a 1 year low of $525.38 and a 1 year high of $710.97. The company has a 50 day simple moving average of $595.04 and a two-hundred day simple moving average of $623.93. The firm has a market cap of $32.51 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 1.93 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the firm posted $1.90 EPS. The company’s revenue was up 17.2% on a year-over-year basis. On average, equities analysts expect that Martin Marietta Materials, Inc. will post 19.32 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 7.91%.

Analyst Ratings Changes

MLM has been the topic of several recent research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $785.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Morgan Stanley decreased their target price on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. Wall Street Zen upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Stephens decreased their target price on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Finally, Citigroup decreased their target price on shares of Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $689.81.

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.