Congress Asset Management Co. Acquires 1,242 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Congress Asset Management Co. lifted its stake in Martin Marietta Materials, Inc. (NYSE:MLMFree Report) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 253,178 shares of the construction company’s stock after purchasing an additional 1,242 shares during the period. Congress Asset Management Co. owned 0.41% of Martin Marietta Materials worth $136,273,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Newbridge Financial Services Group Inc. grew its position in shares of Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after buying an additional 37 shares during the period. Asset Dedication LLC boosted its stake in Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares during the last quarter. Fortitude Family Office LLC grew its holdings in Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after purchasing an additional 41 shares during the period. Pathway Financial Advisers LLC bought a new stake in Martin Marietta Materials in the first quarter valued at approximately $41,000. Finally, Rothschild Investment LLC acquired a new stake in Martin Marietta Materials in the second quarter worth $43,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Loop Capital decreased their target price on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. JPMorgan Chase & Co. dropped their price target on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Barclays lifted their price objective on Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Stifel Nicolaus lowered their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $621.50.

Check Out Our Latest Stock Analysis on MLM

Martin Marietta Materials Stock Down 1.1 %

Shares of NYSE MLM traded down $6.44 during mid-day trading on Thursday, hitting $598.41. The company had a trading volume of 98,193 shares, compared to its average volume of 441,956. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45. The firm has a 50-day simple moving average of $539.92 and a two-hundred day simple moving average of $556.12. The company has a market capitalization of $36.57 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 4.62 and a beta of 0.91. Martin Marietta Materials, Inc. has a one year low of $404.93 and a one year high of $626.67.

Martin Marietta Materials (NYSE:MLMGet Free Report) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The company 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 posted $6.94 EPS. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities analysts expect that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a dividend yield of 0.53%. Martin Marietta Materials’s payout ratio is currently 9.60%.

About Martin Marietta Materials

(Free Report)

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.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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