Martin Marietta Materials, Inc. (NYSE:MLM) Stock Position Increased by Cerity Partners LLC

Cerity Partners LLC grew its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 28.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 26,302 shares of the construction company’s stock after buying an additional 5,899 shares during the period. Cerity Partners LLC’s holdings in Martin Marietta Materials were worth $14,157,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Ameritas Advisory Services LLC grew its holdings in Martin Marietta Materials by 2.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock worth $360,000 after buying an additional 18 shares in the last quarter. Inspire Investing LLC boosted its position in Martin Marietta Materials by 0.9% during the 3rd quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock worth $1,144,000 after acquiring an additional 19 shares during the period. Mather Group LLC. grew its stake in shares of Martin Marietta Materials by 13.6% in the second quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock worth $90,000 after purchasing an additional 20 shares in the last quarter. TFG Advisers LLC increased its holdings in shares of 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 during the period. Finally, Meiji Yasuda Life Insurance Co raised its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on MLM shares. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Morgan Stanley boosted their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Truist Financial decreased their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Loop Capital boosted their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group decreased their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average target price of $634.85.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $603.84 on Tuesday. Martin Marietta Materials, Inc. has a one year low of $456.83 and a one year high of $633.23. The company has a 50-day moving average of $565.21 and a two-hundred day moving average of $556.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The stock has a market cap of $36.91 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 4.05 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business posted $6.94 EPS. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, equities research analysts expect that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be issued 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 0.52%. Martin Marietta Materials’s payout ratio is currently 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.