SPC Financial Inc. Purchases Shares of 350 Martin Marietta Materials, Inc. (NYSE:MLM)

SPC Financial Inc. purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 350 shares of the construction company’s stock, valued at approximately $215,000.

Several other large investors also recently made changes to their positions in the company. Coronation Fund Managers Ltd. increased its stake in shares of Martin Marietta Materials by 8.1% during the first quarter. Coronation Fund Managers Ltd. now owns 4,926 shares of the construction company’s stock valued at $3,024,000 after acquiring an additional 370 shares during the period. GSA Capital Partners LLP bought a new stake in Martin Marietta Materials during the first quarter worth approximately $1,313,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Martin Marietta Materials by 67.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,816 shares of the construction company’s stock worth $1,729,000 after buying an additional 1,135 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in Martin Marietta Materials during the first quarter worth approximately $653,000. Finally, Patron Partners LLC bought a new stake in Martin Marietta Materials during the first quarter worth approximately $282,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Stifel Nicolaus decreased their price objective on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Truist Financial raised their price objective on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Citigroup decreased their price objective on shares of Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $606.08.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $559.35 on Friday. The company has a market capitalization of $34.48 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 2.42 and a beta of 0.91. Martin Marietta Materials, Inc. has a one year low of $389.90 and a one year high of $626.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. The company’s fifty day moving average price is $563.95 and its 200 day moving average price is $559.10.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company earned $2.16 earnings per share. The firm’s revenue was down 7.6% on a year-over-year basis. As a group, analysts expect that Martin Marietta Materials, Inc. will post 23.03 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Monday, June 3rd. Martin Marietta Materials’s payout ratio is presently 8.77%.

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.