Fifth Third Bancorp lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 162.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,099 shares of the construction company’s stock after buying an additional 13,054 shares during the quarter. Fifth Third Bancorp’s holdings in Martin Marietta Materials were worth $12,421,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of MLM. Lido Advisors LLC grew its stake in shares of Martin Marietta Materials by 0.8% in the fourth quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock valued at $1,209,000 after acquiring an additional 15 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its position in Martin Marietta Materials by 3.9% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock worth $264,000 after acquiring an additional 16 shares during the period. Harbour Investments Inc. raised its stake in Martin Marietta Materials by 31.4% in the 4th quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock worth $42,000 after purchasing an additional 16 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Martin Marietta Materials by 0.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock worth $1,361,000 after purchasing an additional 17 shares in the last quarter. Finally, Fiduciary Alliance LLC raised its stake in Martin Marietta Materials by 2.6% in the 4th quarter. Fiduciary Alliance LLC now owns 702 shares of the construction company’s stock worth $437,000 after purchasing an additional 18 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have issued reports on MLM. Barclays decreased their target price on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Truist Financial lifted their price target on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Citigroup boosted their price target on Martin Marietta Materials from $731.00 to $737.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Wall Street Zen downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Sunday. Finally, Oppenheimer started coverage on Martin Marietta Materials in a research note on Thursday, May 28th. They set a “market perform” rating on the stock. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $682.41.
Martin Marietta Materials Stock Performance
Martin Marietta Materials stock opened at $574.13 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. The stock has a market cap of $34.48 billion, a PE ratio of 13.68, a P/E/G ratio of 2.42 and a beta of 1.10. Martin Marietta Materials, Inc. has a 12-month low of $525.38 and a 12-month high of $710.97. The business’s 50-day moving average price is $580.29 and its two-hundred day moving average price is $614.25.
Martin Marietta Materials (NYSE:MLM – Get Free Report) last posted its earnings results on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the business earned $1.90 earnings per share. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, analysts expect that Martin Marietta Materials, Inc. will post 19.38 earnings per share for the current fiscal year.
Martin Marietta Materials Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were given a $0.83 dividend. The ex-dividend date was Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 7.91%.
About Martin Marietta Materials
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.
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