State of Wyoming Buys New Shares in Martin Marietta Materials, Inc. $MLM

State of Wyoming bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,765 shares of the construction company’s stock, valued at approximately $1,018,000.

Several other large investors have also recently bought and sold shares of MLM. CoreCap Advisors LLC grew its stake in Martin Marietta Materials by 370.0% in the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock valued at $27,000 after purchasing an additional 37 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Martin Marietta Materials by 67.9% during the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after purchasing an additional 19 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth approximately $31,000. Reflection Asset Management acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $35,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Martin Marietta Materials in the 2nd quarter valued at approximately $37,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MLM has been the subject of several analyst reports. Weiss Ratings raised shares of Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, June 25th. UBS Group cut their price target on shares of Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, July 28th. Wells Fargo & Company decreased their price objective on shares of Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating for the company in a research report on Friday, July 31st. Finally, Truist Financial boosted their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $668.53.

Martin Marietta Materials Stock Performance

MLM opened at $549.01 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a 12-month low of $523.48 and a 12-month high of $710.97. The business has a 50 day moving average of $572.88 and a 200-day moving average of $600.18. The stock has a market cap of $32.98 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 2.34 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM) last posted 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. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the firm earned $5.43 EPS. The firm’s revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, September 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.16%.

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.