Commerce Bank Makes New $1.73 Million Investment in Martin Marietta Materials, Inc. $MLM

Commerce Bank acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 2,999 shares of the construction company’s stock, valued at approximately $1,730,000.

A number of other large investors have also recently made changes to their positions in the stock. Meeder Asset Management Inc. raised its stake in 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 acquiring an additional 19 shares during the period. CoreCap Advisors LLC boosted its position in shares of 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 purchasing an additional 37 shares during the period. Garton & Associates Financial Advisors LLC bought a new position in shares of Martin Marietta Materials in the fourth quarter worth approximately $31,000. Reflection Asset Management purchased a new stake in shares of Martin Marietta Materials in the fourth quarter worth $35,000. Finally, Quarry LP purchased a new stake in shares of Martin Marietta Materials in the third quarter worth $38,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on MLM shares. JPMorgan Chase & Co. decreased their price objective 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. Stephens dropped 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 report on Friday, July 31st. Raymond James Financial set a $660.00 price target on Martin Marietta Materials in a research note on Friday, July 31st. Berenberg Bank set a $556.00 price target on Martin Marietta Materials and gave the company a “hold” rating in a report on Tuesday, June 2nd. Finally, DA Davidson began coverage on Martin Marietta Materials in a research report on Monday. They issued a “neutral” rating and a $625.00 price objective on the stock. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus target price of $665.29.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $532.58 on Wednesday. The firm has a market cap of $31.99 billion, a PE ratio of 13.09, a PEG ratio of 2.30 and a beta of 1.11. The stock has a 50 day moving average of $567.14 and a 200 day moving average of $593.72. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a 12 month low of $522.19 and a 12 month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.76 by $0.24. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The company’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.43 EPS. On average, research analysts expect 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. Investors of record on Tuesday, September 1st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.6%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, September 1st. Martin Marietta Materials’s payout ratio is 8.16%.

Martin Marietta Materials 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.