Perigon Wealth Management LLC Buys New Shares in Martin Marietta Materials, Inc. $MLM

Perigon Wealth Management LLC acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,698 shares of the construction company’s stock, valued at approximately $3,863,000.

Several other large investors have also recently bought and sold shares of the stock. Lido Advisors LLC raised its stake in shares of Martin Marietta Materials by 0.8% during the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock worth $1,209,000 after purchasing an additional 15 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its stake in shares of Martin Marietta Materials by 3.9% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock valued at $264,000 after buying an additional 16 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of Martin Marietta Materials by 31.4% in the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock valued at $42,000 after buying an additional 16 shares in the last quarter. AMG National Trust Bank raised its position in Martin Marietta Materials by 3.6% during the first quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock worth $291,000 after acquiring an additional 17 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Martin Marietta Materials by 0.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock valued at $1,361,000 after acquiring an additional 17 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Down 1.6%

Shares of MLM opened at $539.42 on Tuesday. The firm’s 50-day simple moving average is $572.58 and its 200 day simple moving average is $599.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.73 and a current ratio of 1.41. The firm has a market cap of $32.40 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. Martin Marietta Materials, Inc. has a 52 week low of $523.48 and a 52 week high of $710.97.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share (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 company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company posted $5.43 earnings per share. The business’s revenue was up 21.0% on a year-over-year basis. On average, analysts forecast that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be given a $0.84 dividend. The ex-dividend date is Tuesday, September 1st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.16%.

Analyst Ratings Changes

MLM has been the subject of a number of analyst reports. Morgan Stanley decreased 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 research report on Thursday. Truist Financial upped their target price on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a report on Monday, May 4th. Royal Bank Of Canada cut their target price on shares of Martin Marietta Materials from $615.00 to $610.00 and set a “sector perform” rating for the company in a research note on Monday, August 3rd. UBS Group reduced their price target on Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Finally, Citigroup lowered their price target on Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus target price of $668.53.

Martin Marietta Materials Profile

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.