2,360 Shares in Martin Marietta Materials, Inc. $MLM Acquired by United Capital Financial Advisors LLC

Key Points

• United Capital Financial Advisors acquired 2,360 shares of Martin Marietta Materials valued at approximately $1.36 million. Institutional investors collectively own 95.04% of the company’s stock.
• Martin Marietta reported quarterly revenue of $1.95 billion, up 21% year over year, and adjusted earnings of $5.00 per share, exceeding analyst expectations of $4.76.
• The company raised its quarterly dividend to $0.84 per share, equivalent to an annualized dividend of $3.36 and a 0.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $665.88.

United Capital Financial Advisors LLC bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,360 shares of the construction company's stock, valued at approximately $1,361,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CoreCap Advisors LLC raised its position in Martin Marietta Materials by 370.0% in the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company's stock valued at $27,000 after purchasing an additional 37 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Martin Marietta Materials by 67.9% in the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company's stock worth $28,000 after buying an additional 19 shares during the period. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $31,000. Reflection Asset Management purchased a new stake in shares of Martin Marietta Materials during the 4th quarter valued at about $35,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Martin Marietta Materials during the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $531.11 on Friday. 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 12 month low of $522.19 and a 12 month high of $710.97. The company has a fifty day moving average price of $562.81 and a two-hundred day moving average price of $591.20. The company has a market cap of $31.90 billion, a PE ratio of 13.05, a P/E/G ratio of 2.29 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 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 business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the business posted $5.43 EPS. The company's quarterly revenue was up 21.0% on a year-over-year basis. Research analysts expect 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be given a dividend of $0.84 per share. 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 payout ratio is presently 8.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MLM shares. Wall Street Zen cut Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Tuesday, July 28th. Truist Financial boosted their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Stephens dropped their target price on Martin Marietta Materials from $700.00 to $680.00 and set an "overweight" rating on the stock in a research report on Friday, July 31st. Wells Fargo & Company reduced their price target on Martin Marietta Materials from $616.00 to $581.00 and set an "equal weight" rating for the company in a report on Friday, July 31st. Finally, Weiss Ratings lowered Martin Marietta Materials from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, August 17th. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $665.88.

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.

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