18,810 Shares in Martin Marietta Materials, Inc. $MLM Bought by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 2nd quarter, Holdings Channel reports. The firm bought 18,810 shares of the construction company’s stock, valued at approximately $10,848,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in Martin Marietta Materials in the second quarter worth about $2,706,134,000. Victory Capital Management Inc. raised its stake in shares of Martin Marietta Materials by 51.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after buying an additional 836,120 shares during the period. Norges Bank purchased a new position in shares of Martin Marietta Materials during the 4th quarter valued at about $354,681,000. Bank of America Corp DE lifted its position in shares of Martin Marietta Materials by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock valued at $1,284,938,000 after buying an additional 565,856 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Martin Marietta Materials during the 2nd quarter valued at approximately $199,321,000. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MLM shares. Weiss Ratings lowered shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Truist Financial lifted their price target 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. Oppenheimer began coverage on shares of Martin Marietta Materials in a research report on Thursday, May 28th. They issued a “market perform” rating for the company. Berenberg Bank set a $556.00 price objective on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research note on Tuesday, June 2nd. Finally, Royal Bank Of Canada decreased their price objective on shares of Martin Marietta Materials from $615.00 to $610.00 and set a “sector perform” rating on the stock in a research report on Monday, August 3rd. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $668.53.

Martin Marietta Materials Trading Up 2.5%

MLM stock opened at $535.67 on Thursday. 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, Inc. has a 1-year low of $522.19 and a 1-year high of $710.97. The business has a 50 day simple moving average of $571.26 and a two-hundred day simple moving average of $597.35. The company has a market capitalization of $32.18 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 2.26 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data 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. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the business posted $5.43 earnings per share. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. Research analysts anticipate that Martin Marietta Materials, Inc. will post 19.07 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend 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 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is 8.16%.

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.