Meeder Advisory Services Inc. Acquires Shares of 2,249 Martin Marietta Materials, Inc. $MLM

Meeder Advisory Services Inc. bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 2,249 shares of the construction company’s stock, valued at approximately $1,297,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MLM. Meeder Asset Management Inc. purchased a new stake in shares of Martin Marietta Materials during the second quarter valued at approximately $34,000. Citizens Financial Group Inc. RI purchased a new position in Martin Marietta Materials in the 2nd quarter worth approximately $752,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in Martin Marietta Materials in the 2nd quarter worth approximately $705,000. Argyle Capital Partners LLC bought a new position in Martin Marietta Materials in the 2nd quarter valued at approximately $982,000. Finally, B & T Capital Management DBA Alpha Capital Management bought a new position in Martin Marietta Materials in the 2nd quarter valued at approximately $3,398,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 2.5%

Shares of Martin Marietta Materials stock opened at $535.67 on Thursday. The company has a market cap of $32.18 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 2.26 and a beta of 1.11. The company’s 50 day moving average is $571.26 and its 200 day moving average is $597.35. Martin Marietta Materials, Inc. has a twelve month low of $522.19 and a twelve month high of $710.97. 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 issued its earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.76 by $0.24. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the company posted $5.43 earnings per share. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. Research analysts anticipate that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

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

Analysts Set New Price Targets

MLM has been the topic of several recent analyst reports. Oppenheimer began coverage on Martin Marietta Materials in a research note on Thursday, May 28th. They set a “market perform” rating on the stock. Berenberg Bank set a $556.00 price target on Martin Marietta Materials and gave the stock a “hold” rating in a research note on Tuesday, June 2nd. Weiss Ratings downgraded Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Truist Financial increased their price objective on Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Morgan Stanley reduced their price objective on Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Ten analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus price target of $668.53.

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.