Martin Marietta Materials, Inc. (NYSE:MLM) Shares Acquired by Huntington National Bank

Huntington National Bank raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,521 shares of the construction company’s stock after buying an additional 220 shares during the quarter. Huntington National Bank’s holdings in Martin Marietta Materials were worth $2,972,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. boosted its position in 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 purchasing an additional 37 shares in the last quarter. Asset Dedication LLC lifted its holdings in shares of Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares during the period. First Personal Financial Services purchased a new stake in shares of Martin Marietta Materials during the 3rd quarter valued at $33,000. Fortitude Family Office LLC lifted its stake in shares of Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after purchasing an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in Martin Marietta Materials during the first quarter worth approximately $41,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

MLM opened at $583.03 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. Martin Marietta Materials, Inc. has a 52 week low of $451.37 and a 52 week high of $633.23. The company has a fifty day moving average price of $555.96 and a two-hundred day moving average price of $557.02. The firm has a market capitalization of $35.63 billion, a PE ratio of 18.17, a P/E/G ratio of 4.04 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last released its quarterly 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). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business earned $6.94 EPS. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Citigroup lowered their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Barclays boosted their price target on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, UBS Group assumed coverage on shares of 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 research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average target price of $634.85.

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.