2,249 Shares in Martin Marietta Materials, Inc. $MLM Bought by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,249 shares of the construction company's stock, valued at approximately $1,297,000.

A number of other hedge funds have also added to or reduced their stakes in MLM. Integrated Wealth Concepts LLC increased its position in shares of 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 lifted its holdings in 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 holdings in Martin Marietta Materials by 11.1% in the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company's stock worth $280,000 after buying an additional 51 shares during the period. EverSource Wealth Advisors LLC boosted its position in Martin Marietta Materials by 205.9% during 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 in the last quarter. Finally, Cresset Asset Management LLC boosted its position 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 in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

MLM stock opened at $535.67 on Thursday. The firm has a 50 day moving average price of $571.26 and a 200-day moving average price of $597.35. 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 $32.18 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 2.26 and a beta of 1.11. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter was up 21.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.43 EPS. Equities research analysts forecast 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. Shareholders 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 a positive change from Martin Marietta Materials's previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, September 1st. Martin Marietta Materials's dividend payout ratio is presently 8.16%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Stephens decreased their target price on Martin Marietta Materials from $700.00 to $680.00 and set an "overweight" rating for the company in a research report on Friday, July 31st. Raymond James Financial set a $660.00 price target on Martin Marietta Materials in a research report on Friday, July 31st. Berenberg Bank set a $556.00 price objective on Martin Marietta Materials and gave the stock a "hold" rating in a report on Tuesday, June 2nd. Truist Financial raised their price objective on Martin Marietta Materials from $710.00 to $730.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company dropped their target price on shares of Martin Marietta Materials from $616.00 to $581.00 and set an "equal weight" rating on the stock in a report on Friday, July 31st. Ten research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source