Stoneridge Investment Partners LLC Takes Position in Martin Marietta Materials, Inc. $MLM

Stoneridge Investment Partners LLC purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, Holdings Channel reports. The institutional investor purchased 1,014 shares of the construction company’s stock, valued at approximately $532,000.

Several other institutional investors and hedge funds also recently bought and sold shares of MLM. One Wealth Advisors LLC bought a new stake in Martin Marietta Materials during the 2nd quarter valued at $221,000. Clearstead Trust LLC purchased a new stake in shares of Martin Marietta Materials during the second quarter worth $41,000. USA Financial Formulas purchased a new stake in shares of Martin Marietta Materials during the first quarter worth $423,000. Whitener Capital Management Inc. boosted its holdings in shares of Martin Marietta Materials by 7.3% in the second quarter. Whitener Capital Management Inc. now owns 3,175 shares of the construction company’s stock worth $1,831,000 after acquiring an additional 215 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Martin Marietta Materials by 18.3% in the second quarter. Handelsbanken Fonder AB now owns 37,395 shares of the construction company’s stock worth $21,566,000 after acquiring an additional 5,780 shares during the period. 95.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MLM shares. Berenberg Bank set a $556.00 price target on Martin Marietta Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. Stephens cut their target price on 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. Wells Fargo & Company cut their target price on Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Morgan Stanley reduced their target price on Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating for the company in a report on Thursday. Finally, UBS Group decreased their price target on Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average price target of $668.53.

Martin Marietta Materials Stock Up 0.8%

MLM opened at $549.01 on Friday. The firm has a market capitalization of $32.98 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 2.34 and a beta of 1.11. Martin Marietta Materials, Inc. has a one year low of $523.48 and a one year high of $710.97. The company has a fifty day moving average price of $572.88 and a 200-day moving average price of $600.18. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73.

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. 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%.The firm’s revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the business posted $5.43 earnings per share. Equities research analysts expect that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

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