First Trust Direct Indexing L.P. Has $952,000 Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

First Trust Direct Indexing L.P. boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,769 shares of the construction company’s stock after buying an additional 110 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Martin Marietta Materials were worth $952,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Martin Marietta Materials by 0.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 148,571 shares of the construction company’s stock valued at $91,214,000 after purchasing an additional 682 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Martin Marietta Materials by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 6,704 shares of the construction company’s stock worth $4,115,000 after buying an additional 30 shares during the last quarter. Norden Group LLC acquired a new position in shares of Martin Marietta Materials during the first quarter worth $2,089,000. Private Advisor Group LLC lifted its stake in shares of Martin Marietta Materials by 2.1% in the 1st quarter. Private Advisor Group LLC now owns 1,227 shares of the construction company’s stock valued at $754,000 after acquiring an additional 25 shares during the last quarter. Finally, Prosperity Consulting Group LLC boosted its holdings in shares of Martin Marietta Materials by 24.3% during the 1st quarter. Prosperity Consulting Group LLC now owns 557 shares of the construction company’s stock valued at $342,000 after acquiring an additional 109 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. StockNews.com cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Truist Financial lowered their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Barclays lifted their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research report on Tuesday. Morgan Stanley upped their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Finally, Jefferies Financial Group cut their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average target price of $626.92.

Martin Marietta Materials Price Performance

MLM stock opened at $580.14 on Friday. The company has a quick ratio of 0.94, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The firm has a market cap of $35.46 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 5.11 and a beta of 0.91. The company’s fifty day simple moving average is $541.37 and its 200 day simple moving average is $556.24. Martin Marietta Materials, Inc. has a 12-month low of $438.53 and a 12-month high of $626.67.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the firm earned $6.94 earnings per share. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, analysts expect that Martin Marietta Materials, Inc. will post 18.61 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.79 per share. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date was Tuesday, September 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.85%.

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.