Hazlett Burt & Watson Inc. Raises Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Hazlett Burt & Watson Inc. increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 10.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,200 shares of the construction company’s stock after purchasing an additional 115 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Martin Marietta Materials were worth $646,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. grew its stake in shares of Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after acquiring an additional 37 shares during the last quarter. Asset Dedication LLC raised its position in shares of Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. Fortitude Family Office LLC boosted its stake in Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after purchasing an additional 41 shares in the last quarter. Pathway Financial Advisers LLC purchased a new stake in Martin Marietta Materials during the 1st quarter worth approximately $41,000. Finally, Rothschild Investment LLC acquired a new position in Martin Marietta Materials during the 2nd quarter valued at approximately $43,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MLM has been the subject of several research reports. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Jefferies Financial Group lowered their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Loop Capital increased their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday. Barclays raised their price objective on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Finally, Stephens dropped their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and an average price target of $626.92.

Martin Marietta Materials Stock Performance

MLM stock traded up $1.60 during midday trading on Monday, hitting $581.74. 81,135 shares of the stock traded hands, compared to its average volume of 443,095. Martin Marietta Materials, Inc. has a 1-year low of $438.89 and a 1-year high of $626.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 0.94. The stock’s fifty day simple moving average is $541.37 and its 200-day simple moving average is $555.72. The firm has a market cap of $35.56 billion, a P/E ratio of 18.08, a PEG ratio of 5.04 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Martin Marietta Materials’s revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the business earned $6.94 earnings per share. On average, analysts expect that Martin Marietta Materials, Inc. will post 18.48 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

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.