Martin Marietta Materials, Inc. $MLM Shares Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC grew its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 34.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,695 shares of the construction company’s stock after buying an additional 1,201 shares during the period. Perigon Wealth Management LLC’s holdings in Martin Marietta Materials were worth $2,959,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Martin Marietta Materials by 0.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,955,139 shares of the construction company’s stock valued at $1,622,254,000 after acquiring an additional 10,445 shares during the last quarter. State Street Corp raised its stake in shares of Martin Marietta Materials by 2.0% during the second quarter. State Street Corp now owns 2,825,325 shares of the construction company’s stock worth $1,550,990,000 after purchasing an additional 56,353 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Martin Marietta Materials by 31.9% during the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after purchasing an additional 565,856 shares during the period. Amundi grew its position in Martin Marietta Materials by 9.2% in the 1st quarter. Amundi now owns 1,706,416 shares of the construction company’s stock valued at $827,345,000 after buying an additional 144,270 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Martin Marietta Materials by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,520,932 shares of the construction company’s stock valued at $831,331,000 after buying an additional 4,666 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $637.51 on Tuesday. The stock has a fifty day moving average price of $619.12 and a 200 day moving average price of $603.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.07 and a current ratio of 2.97. The stock has a market cap of $38.45 billion, a PE ratio of 33.61 and a beta of 1.16. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $665.18.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). Martin Marietta Materials had a net margin of 17.34% and a return on equity of 11.68%. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, December 1st. Martin Marietta Materials’s dividend payout ratio is 17.50%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Raymond James Financial raised their target price on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Jefferies Financial Group boosted their target price on Martin Marietta Materials from $725.00 to $730.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Barclays raised their price target on Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, October 20th. JPMorgan Chase & Co. upped their price objective on Martin Marietta Materials from $670.00 to $700.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Finally, Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $652.19.

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.