BIP Wealth LLC Takes $229,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

BIP Wealth LLC acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the third quarter, HoldingsChannel.com reports. The fund acquired 425 shares of the construction company’s stock, valued at approximately $229,000.

Several other large investors also recently added to or reduced their stakes in MLM. Ameritas Advisory Services LLC boosted its stake in shares of Martin Marietta Materials by 2.8% during the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock worth $360,000 after acquiring an additional 18 shares during the last quarter. Inspire Investing LLC raised its holdings in Martin Marietta Materials by 0.9% in the 3rd quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock worth $1,144,000 after purchasing an additional 19 shares during the period. Mather Group LLC. raised its holdings in Martin Marietta Materials by 13.6% in the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock worth $90,000 after purchasing an additional 20 shares during the period. TFG Advisers LLC lifted its position in Martin Marietta Materials by 3.7% during the second quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after purchasing an additional 20 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co grew its holdings in Martin Marietta Materials by 3.0% during the second quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock valued at $368,000 after purchasing an additional 20 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $582.68 on Wednesday. The business’s 50-day moving average is $559.08 and its 200 day moving average is $556.37. Martin Marietta Materials, Inc. has a 12 month low of $451.37 and a 12 month high of $633.23. The company has a market capitalization of $35.61 billion, a P/E ratio of 18.16, a P/E/G ratio of 3.90 and a beta of 0.90. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the company earned $6.94 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.54%. Martin Marietta Materials’s payout ratio is currently 9.85%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Morgan Stanley raised their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Barclays increased their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Jefferies Financial Group lowered their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Finally, UBS Group initiated coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $730.00 price target for the company. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $634.85.

Martin Marietta Materials Company 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.