Schrum Private Wealth Management LLC Buys Shares of 614 Martin Marietta Materials, Inc. (NYSE:MLM)

Schrum Private Wealth Management LLC purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 614 shares of the construction company’s stock, valued at approximately $331,000.

Other large investors have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. boosted its stake in Martin Marietta Materials by 411.1% during the 2nd 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 during the last quarter. Asset Dedication LLC lifted its stake in shares of Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares in the last quarter. First Personal Financial Services acquired a new position in Martin Marietta Materials during the third quarter worth about $33,000. Fortitude Family Office LLC grew its stake in Martin Marietta Materials by 186.4% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after acquiring an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in Martin Marietta Materials in the 1st quarter valued at about $41,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MLM. Barclays boosted their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Morgan Stanley boosted their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Truist Financial reduced their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Stephens dropped their price objective on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $634.85.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $605.33 on Thursday. The company’s 50 day simple moving average is $554.32 and its 200-day simple moving average is $556.80. 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 1 year low of $451.37 and a 1 year high of $633.23. The company has a market capitalization of $37.00 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 4.05 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the firm earned $6.94 EPS. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s payout ratio is 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.