Rodgers & Associates LTD Takes Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Rodgers & Associates LTD bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 327 shares of the construction company’s stock, valued at approximately $201,000.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $308,705,000. Balyasny Asset Management L.P. raised its stake in shares of Martin Marietta Materials by 4,244.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company’s stock valued at $138,289,000 after purchasing an additional 270,802 shares during the period. Corient Private Wealth LLC increased its stake in Martin Marietta Materials by 306.8% during the 4th quarter. Corient Private Wealth LLC now owns 161,690 shares of the construction company’s stock worth $80,668,000 after buying an additional 121,941 shares during the period. Jennison Associates LLC increased its stake in shares of Martin Marietta Materials by 96.6% in the fourth quarter. Jennison Associates LLC now owns 157,904 shares of the construction company’s stock worth $78,780,000 after buying an additional 77,596 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Martin Marietta Materials by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock worth $3,577,268,000 after purchasing an additional 69,701 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of NYSE MLM traded down $4.98 during mid-day trading on Friday, reaching $559.08. 894,307 shares of the company traded hands, compared to its average volume of 493,224. The firm has a market cap of $34.46 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 2.49 and a beta of 0.91. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The stock has a fifty day simple moving average of $559.49 and a 200-day simple moving average of $562.28.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the business earned $2.16 earnings per share. Martin Marietta Materials’s revenue for the quarter was down 7.6% compared to the same quarter last year. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 22.97 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Monday, June 3rd. Martin Marietta Materials’s payout ratio is 8.77%.

Analysts Set New Price Targets

A number of research firms have commented on MLM. The Goldman Sachs Group increased their target price on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Citigroup decreased their price objective on shares of Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Truist Financial increased their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Finally, Jefferies Financial Group upped their price objective on Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus target price of $617.33.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.