107,511 Shares in Martin Marietta Materials, Inc. $MLM Purchased by M.D. Sass LLC

M.D. Sass LLC acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 107,511 shares of the construction company’s stock, valued at approximately $62,002,000. Martin Marietta Materials comprises about 4.1% of M.D. Sass LLC’s investment portfolio, making the stock its 13th largest holding.

Other large investors have also modified their holdings of the company. Meeder Advisory Services Inc. bought a new position in shares of Martin Marietta Materials during the second quarter valued at approximately $1,297,000. Meeder Asset Management Inc. bought a new stake in shares of Martin Marietta Materials during the 2nd quarter worth approximately $34,000. Citizens Financial Group Inc. RI bought a new stake in shares of Martin Marietta Materials during the 2nd quarter worth approximately $752,000. Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Martin Marietta Materials during the 2nd quarter worth approximately $705,000. Finally, Argyle Capital Partners LLC purchased a new position in Martin Marietta Materials during the 2nd quarter valued at $982,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. JPMorgan Chase & Co. cut their price objective on Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Raymond James Financial set a $660.00 target price on Martin Marietta Materials in a research report on Friday, July 31st. Stephens lowered their target price on shares of Martin Marietta Materials from $700.00 to $680.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Tuesday, July 28th. Finally, UBS Group reduced their price target on shares of Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Ten research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $668.53.

Martin Marietta Materials Stock Down 2.6%

Shares of NYSE MLM opened at $524.52 on Wednesday. Martin Marietta Materials, Inc. has a 52-week low of $522.19 and a 52-week high of $710.97. The firm has a market capitalization of $31.51 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 2.37 and a beta of 1.11. The stock has a 50 day moving average price of $571.62 and a 200 day moving average price of $598.17. 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 (NYSE:MLM) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping the consensus estimate of $4.76 by $0.24. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.Martin Marietta Materials’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period last year, the business posted $5.43 EPS. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.84 per share. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Martin Marietta Materials’s payout ratio is 8.16%.

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.