Beacon Pointe Advisors LLC Takes Position in Martin Marietta Materials, Inc. $MLM

Key Points

• Beacon Pointe Advisors acquired 3,148 shares of Martin Marietta Materials worth approximately $1.82 million during the second quarter. Institutional investors collectively own 95.04% of the company.
• Martin Marietta reported quarterly EPS of $5.00, beating estimates of $4.76, while revenue rose 21% year over year to $1.95 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $665.88.
• The company raised its quarterly dividend to $0.84 per share, equivalent to $3.36 annually and a 0.6% yield.

Beacon Pointe Advisors LLC acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,148 shares of the construction company's stock, valued at approximately $1,819,000.

A number of other large investors also recently bought and sold shares of the business. CoreCap Advisors LLC boosted its stake 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 acquiring an additional 37 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Martin Marietta Materials by 67.9% during the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company's stock worth $28,000 after purchasing an additional 19 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth $31,000. Reflection Asset Management purchased a new stake in shares of Martin Marietta Materials during the 4th quarter valued at $35,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Martin Marietta Materials during the 2nd quarter valued at $37,000. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $531.11 on Monday. The stock has a market cap of $31.90 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. Martin Marietta Materials, Inc. has a 52-week low of $522.19 and a 52-week high of $710.97. The business has a 50-day simple moving average of $562.81 and a 200-day simple moving average of $590.46. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.76 by $0.24. The company had revenue of $1.95 billion during 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%.Martin Marietta Materials's revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the previous year, the company posted $5.43 earnings per share. On average, equities analysts expect that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

The firm 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 dividend on an annualized basis and a yield of 0.6%. 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. Martin Marietta Materials's payout ratio is currently 8.16%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Berenberg Bank set a $556.00 target price on Martin Marietta Materials and gave the stock a "hold" rating in a research note on Tuesday, June 2nd. Citigroup decreased their price target on Martin Marietta Materials from $737.00 to $690.00 and set a "buy" rating for the company in a research note on Monday, August 3rd. Stephens lowered their price target on Martin Marietta Materials from $700.00 to $680.00 and set an "overweight" rating for the company in a report on Friday, July 31st. Wall Street Zen downgraded Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Tuesday, July 28th. Finally, Royal Bank Of Canada boosted their price target on Martin Marietta Materials from $610.00 to $620.00 and gave the stock a "sector perform" rating in a research note on Friday. Ten equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, Martin Marietta Materials currently has an average rating of "Moderate Buy" and an average target price 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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