Gradient Investments LLC Purchases 7,772 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• Gradient Investments increased its Martin Marietta Materials stake by 18.6% in the second quarter, adding 7,772 shares to hold 49,559 shares valued at approximately $28.6 million. Institutional investors collectively own 95.04% of MLM.
• Martin Marietta exceeded quarterly expectations, reporting $5.00 in earnings per share versus the $4.76 consensus and $1.95 billion in revenue, up 21% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $670, despite several recent target reductions; MLM recently traded at $548.50 and pays a quarterly dividend of $0.83 per share.

Gradient Investments LLC increased its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 18.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 49,559 shares of the construction company's stock after acquiring an additional 7,772 shares during the quarter. Gradient Investments LLC owned about 0.08% of Martin Marietta Materials worth $28,581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MLM. Optima Capital LLC purchased a new position in shares of Martin Marietta Materials in the fourth quarter worth about $25,000. CoreCap Advisors LLC lifted its stake in shares of Martin Marietta Materials by 370.0% during the 2nd quarter. CoreCap Advisors LLC now owns 47 shares of the construction company's stock valued at $27,000 after buying an additional 37 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in Martin Marietta Materials by 67.9% in the 1st 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 bought a new position in Martin Marietta Materials in the 4th quarter worth approximately $31,000. Finally, Reflection Asset Management purchased a new position in Martin Marietta Materials in the 4th quarter valued at approximately $35,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $548.50 on Friday. Martin Marietta Materials, Inc. has a 52-week low of $523.48 and a 52-week high of $710.97. The stock has a fifty day moving average of $575.90 and a 200 day moving average of $603.58. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.73 and a current ratio of 1.41. The firm has a market capitalization of $32.95 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 2.30 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, topping analysts' consensus estimates of $4.76 by $0.24. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The company's quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the company earned $5.43 EPS. On average, research analysts expect that Martin Marietta Materials, Inc. will post 19.25 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 1st. Martin Marietta Materials's dividend payout ratio (DPR) is currently 8.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MLM shares. Stephens lowered their target price on shares of Martin Marietta Materials from $700.00 to $680.00 and set an "overweight" rating on the stock in a 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. Wells Fargo & Company decreased their price objective on Martin Marietta Materials from $616.00 to $581.00 and set an "equal weight" rating on the stock in a research note on Friday, July 31st. Citigroup dropped their price objective on Martin Marietta Materials from $737.00 to $690.00 and set a "buy" rating on the stock in a report on Monday, August 3rd. Finally, Royal Bank Of Canada cut their target price on Martin Marietta Materials from $615.00 to $610.00 and set a "sector perform" rating for the company in a research note on Monday. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $670.00.

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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