Martin Marietta Materials, Inc. $MLM Shares Purchased by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets boosted its stake in Martin Marietta by 141.3% in Q3 to 117,872 shares (about $74.29 million), roughly 0.20% of the company.
• Analysts’ consensus rating is a "Hold" with an average price target of $696.88, based on 8 Buys, 8 Holds and 1 Sell.
• Martin Marietta reported $4.62 EPS (missing the $4.81 estimate) and $1.53B revenue (below the $1.66B estimate) for the quarter, and declared a quarterly dividend of $0.83 (annualized $3.32, ~0.6% yield).

BNP Paribas Financial Markets grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 141.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 117,872 shares of the construction company's stock after acquiring an additional 69,016 shares during the quarter. BNP Paribas Financial Markets owned about 0.20% of Martin Marietta Materials worth $74,292,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Quent Capital LLC bought a new stake in Martin Marietta Materials in the 3rd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC bought a new position in Martin Marietta Materials in the 2nd quarter worth about $28,000. Redmont Wealth Advisors LLC bought a new position in Martin Marietta Materials in the 3rd quarter worth about $32,000. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the third quarter valued at approximately $33,000. Finally, Clearstead Trust LLC increased its stake in shares of Martin Marietta Materials by 93.8% in the second quarter. Clearstead Trust LLC now owns 62 shares of the construction company's stock valued at $34,000 after purchasing an additional 30 shares during the period. Institutional investors own 95.04% of the company's stock.

Analysts Set New Price Targets

MLM has been the subject of several analyst reports. Royal Bank Of Canada reiterated a "sector perform" rating and set a $630.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Jefferies Financial Group restated a "buy" rating and issued a $785.00 target price on shares of Martin Marietta Materials in a research report on Thursday, February 26th. DA Davidson set a $680.00 target price on Martin Marietta Materials in a research note on Thursday, February 12th. Zacks Research lowered Martin Marietta Materials from a "hold" rating to a "strong sell" rating in a research report on Friday, February 13th. Finally, Truist Financial set a $710.00 price target on Martin Marietta Materials in a research note on Thursday, February 12th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $696.88.

Martin Marietta Materials Trading Down 1.9%

Martin Marietta Materials stock opened at $586.42 on Friday. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $710.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. The stock has a market capitalization of $35.37 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 2.35 and a beta of 1.13. The firm has a 50 day simple moving average of $655.24 and a 200-day simple moving average of $632.66.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its earnings results on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.Martin Marietta Materials's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.79 EPS. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be issued a $0.83 dividend. The ex-dividend date is Monday, March 2nd. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. Martin Marietta Materials's dividend payout ratio is 17.66%.

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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