Ethic Inc. Buys 2,889 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• Ethic Inc. boosted its stake in Martin Marietta Materials by 36.8% in the fourth quarter, buying 2,889 additional shares and bringing its total holding to 10,744 shares worth about $6.69 million.
• The stock was down 1.6% to $590.75, with Martin Marietta Materials carrying a market cap of $35.47 billion and trading below both its 50-day and 200-day moving averages.
• The company reported strong quarterly results, with EPS of $1.93 beating estimates and revenue rising 17.2% year over year to $1.36 billion; analysts currently rate the stock a Moderate Buy with an average price target of $688.81.

Ethic Inc. increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 36.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,744 shares of the construction company's stock after acquiring an additional 2,889 shares during the period. Ethic Inc.'s holdings in Martin Marietta Materials were worth $6,690,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Martin Marietta Materials by 1.3% during the third quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company's stock worth $4,691,139,000 after acquiring an additional 93,595 shares in the last quarter. Bank of America Corp DE boosted its stake in Martin Marietta Materials by 1.1% during the third quarter. Bank of America Corp DE now owns 2,365,832 shares of the construction company's stock worth $1,491,136,000 after acquiring an additional 25,155 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Martin Marietta Materials by 9.6% during the third quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company's stock worth $1,389,428,000 after acquiring an additional 192,637 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Martin Marietta Materials by 1.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 411,482 shares of the construction company's stock worth $259,344,000 after acquiring an additional 5,038 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Martin Marietta Materials by 1.2% during the third quarter. Raymond James Financial Inc. now owns 352,294 shares of the construction company's stock worth $222,044,000 after acquiring an additional 4,071 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Down 1.6%

Shares of Martin Marietta Materials stock opened at $590.75 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. The stock has a market capitalization of $35.47 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13. Martin Marietta Materials, Inc. has a 52-week low of $532.80 and a 52-week high of $710.97. The company has a 50-day simple moving average of $610.46 and a two-hundred day simple moving average of $627.35.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.15. The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The business's revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.90 earnings per share. On average, analysts anticipate that Martin Marietta Materials, Inc. will post 19.27 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd were issued a $0.83 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials's payout ratio is 7.91%.

Analysts Set New Price Targets

MLM has been the topic of several research reports. Wall Street Zen raised shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Loop Capital lowered shares of Martin Marietta Materials from a "buy" rating to a "hold" rating and set a $690.00 price objective on the stock. in a research note on Wednesday, January 28th. Stephens dropped their price objective on shares of Martin Marietta Materials from $740.00 to $735.00 and set an "overweight" rating on the stock in a research note on Friday, February 13th. DA Davidson set a $680.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 12th. Finally, Weiss Ratings cut shares of Martin Marietta Materials from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 1st. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and an average price target of $688.81.

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.

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