Commerce Bank Makes New $1.73 Million Investment in Martin Marietta Materials, Inc. $MLM

Commerce Bank bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,999 shares of the construction company's stock, valued at approximately $1,730,000.

Several other large investors have also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its stake in Martin Marietta Materials by 14,332.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company's stock worth $48,438,000 after purchasing an additional 77,253 shares in the last quarter. Jennison Associates LLC purchased a new position in Martin Marietta Materials in the fourth quarter worth about $18,636,000. Victory Capital Management Inc. lifted 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Martin Marietta Materials by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 126,524 shares of the construction company's stock valued at $80,272,000 after buying an additional 5,227 shares during the last quarter. Finally, Stephens Inc. AR increased its position in shares of Martin Marietta Materials by 11.2% during the fourth quarter. Stephens Inc. AR now owns 51,326 shares of the construction company's stock valued at $31,958,000 after acquiring an additional 5,150 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley lowered their price objective on Martin Marietta Materials from $664.00 to $639.00 and set an "overweight" rating on the stock in a research report on Thursday, August 13th. Truist Financial lifted their target price on Martin Marietta Materials from $710.00 to $730.00 and gave the stock a "buy" rating in a report on Monday, May 4th. UBS Group decreased their price target on Martin Marietta Materials from $739.00 to $715.00 and set a "buy" rating for the company in a research note on Monday, August 3rd. Oppenheimer initiated coverage on Martin Marietta Materials in a report on Thursday, May 28th. They set a "market perform" rating on the stock. Finally, Weiss Ratings cut Martin Marietta Materials from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, August 17th. Ten research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, Martin Marietta Materials presently has an average rating of "Moderate Buy" and an average price target of $665.29.

Martin Marietta Materials Price Performance

NYSE MLM opened at $532.58 on Wednesday. The company has a 50-day moving average price of $567.14 and a 200-day moving average price of $593.72. Martin Marietta Materials, Inc. has a 52 week low of $522.19 and a 52 week high of $710.97. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $31.99 billion, a P/E ratio of 13.09, a PEG ratio of 2.30 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.76 by $0.24. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The firm's revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the firm posted $5.43 earnings per share. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend 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 presently 8.16%.

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.

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