Martin Marietta Materials, Inc. (NYSE:MLM) Holdings Decreased by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 565 shares of the construction company’s stock after selling 35 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Martin Marietta Materials were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mesirow Financial Investment Management Inc. purchased a new position in shares of Martin Marietta Materials during the second quarter valued at $308,000. Dimensional Fund Advisors LP grew its holdings in shares of Martin Marietta Materials by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock valued at $337,903,000 after buying an additional 12,759 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in Martin Marietta Materials by 11.7% during the second quarter. Brown Brothers Harriman & Co. now owns 1,789 shares of the construction company’s stock valued at $969,000 after purchasing an additional 188 shares during the last quarter. Prosperity Consulting Group LLC boosted its position in Martin Marietta Materials by 26.0% during the second quarter. Prosperity Consulting Group LLC now owns 702 shares of the construction company’s stock valued at $380,000 after purchasing an additional 145 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in Martin Marietta Materials by 8.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 13,516 shares of the construction company’s stock valued at $7,323,000 after purchasing an additional 1,098 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $534.04 on Wednesday. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. The stock has a market capitalization of $32.92 billion, a P/E ratio of 15.82, a P/E/G ratio of 3.52 and a beta of 0.91. The business has a 50-day moving average of $541.39 and a two-hundred day moving average of $567.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the firm posted $5.60 EPS. Martin Marietta Materials’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.33 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.59%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date is Tuesday, September 3rd. Martin Marietta Materials’s payout ratio is currently 9.36%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MLM shares. Loop Capital reduced their price objective on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Truist Financial reduced their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research report on Friday, August 9th. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday. Citigroup reduced their price objective on 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. Finally, Stephens reduced their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus price target of $629.82.

About Martin Marietta Materials

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.