Texas Capital Bank Wealth Management Services Inc Takes Position in Martin Marietta Materials, Inc. $MLM

Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,222 shares of the construction company’s stock, valued at approximately $705,000.

A number of other large investors also recently added to or reduced their stakes in MLM. Integrated Wealth Concepts LLC boosted its position in Martin Marietta Materials by 6.6% during the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock valued at $379,000 after buying an additional 49 shares during the period. Empowered Funds LLC increased its holdings in shares of Martin Marietta Materials by 11.4% in the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock worth $673,000 after buying an additional 144 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of Martin Marietta Materials by 11.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock valued at $280,000 after acquiring an additional 51 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Martin Marietta Materials by 205.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock valued at $143,000 after acquiring an additional 175 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its holdings in Martin Marietta Materials by 22.6% during the 2nd quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock valued at $427,000 after acquiring an additional 143 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 1.6%

NYSE MLM opened at $539.42 on Tuesday. The stock 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 fifty-two week low of $523.48 and a fifty-two week high of $710.97. The stock has a 50 day simple moving average of $572.58 and a two-hundred day simple moving average of $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.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.76 by $0.24. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The business’s revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.43 earnings per share. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.6%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, September 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.16%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Oppenheimer started coverage on Martin Marietta Materials in a research report on Thursday, May 28th. They set a “market perform” rating on the stock. UBS Group lowered their price objective on Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Royal Bank Of Canada dropped their price objective on 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. Berenberg Bank set a $556.00 target price on shares of Martin Marietta Materials and gave the stock a “hold” rating in a report on Tuesday, June 2nd. Finally, Raymond James Financial set a $660.00 target price on shares of Martin Marietta Materials in a report on Friday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $668.53.

Martin Marietta Materials Company 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.