Portfolio Design Labs LLC Acquires Shares of 2,375 Martin Marietta Materials, Inc. $MLM

Portfolio Design Labs LLC bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to its most recent filing with the SEC. The fund bought 2,375 shares of the construction company’s stock, valued at approximately $1,370,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CoreCap Advisors LLC raised its position in Martin Marietta Materials by 370.0% in the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock worth $27,000 after acquiring an additional 37 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Martin Marietta Materials by 67.9% during the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after purchasing an additional 19 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of Martin Marietta Materials in the 4th quarter worth approximately $31,000. Reflection Asset Management purchased a new position in Martin Marietta Materials in the fourth quarter valued at approximately $35,000. Finally, Osterweis Capital Management Inc. bought a new position in Martin Marietta Materials during the second quarter valued at $37,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Down 1.8%

MLM stock opened at $526.06 on Friday. The stock has a 50-day simple moving average of $570.47 and a two-hundred day simple moving average of $596.46. Martin Marietta Materials, Inc. has a twelve month low of $522.19 and a twelve month high of $710.97. The firm has a market capitalization of $31.60 billion, a PE ratio of 12.93, a PEG ratio of 2.31 and a beta of 1.11. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, beating analysts’ consensus estimates of $4.76 by $0.24. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. Martin Marietta Materials’s revenue was up 21.0% compared to the same quarter last year. During the same period last year, the business earned $5.43 earnings per share. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 19.07 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be paid a $0.84 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. Martin Marietta Materials’s dividend payout ratio is currently 8.16%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. UBS Group lowered their target price on Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Raymond James Financial set a $660.00 price objective on Martin Marietta Materials in a research note on Friday, July 31st. Stephens cut their target price on shares of Martin Marietta Materials from $700.00 to $680.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. JPMorgan Chase & Co. lowered their price target on shares of Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Finally, Weiss Ratings cut shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Ten investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $668.53.

Martin Marietta Materials Company Profile

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.