Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by Red Spruce Capital LLC

Red Spruce Capital LLC grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,591 shares of the construction company’s stock after buying an additional 186 shares during the quarter. Martin Marietta Materials accounts for 1.5% of Red Spruce Capital LLC’s investment portfolio, making the stock its 20th largest holding. Red Spruce Capital LLC’s holdings in Martin Marietta Materials were worth $3,404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Newbridge Financial Services Group Inc. lifted its position in Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after purchasing an additional 37 shares during the period. Asset Dedication LLC lifted its holdings in shares of Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares during the period. First Personal Financial Services purchased a new stake in shares of Martin Marietta Materials in the third quarter valued at approximately $33,000. Retirement Wealth Solutions LLC acquired a new position in Martin Marietta Materials during the fourth quarter worth $41,000. Finally, Larson Financial Group LLC purchased a new position in Martin Marietta Materials in the third quarter worth $49,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

MLM has been the subject of several recent analyst reports. Raymond James reduced their price objective on shares of Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, January 16th. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday. Wolfe Research raised Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. Finally, Citigroup decreased their price objective on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average target price of $648.71.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $552.43 on Wednesday. The business’s 50-day simple moving average is $554.49 and its 200-day simple moving average is $551.16. The firm has a market capitalization of $33.76 billion, a P/E ratio of 17.21, a P/E/G ratio of 3.17 and a beta of 0.91. Martin Marietta Materials, Inc. has a 1-year low of $490.05 and a 1-year high of $633.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. 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 previous year, the company earned $6.94 EPS. Martin Marietta Materials’s revenue was down 5.3% on a year-over-year basis. Equities analysts predict that Martin Marietta Materials, Inc. will post 17.57 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.57%. The ex-dividend date was Monday, December 2nd. 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.