AMG National Trust Bank Increases Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

AMG National Trust Bank boosted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 16.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 438 shares of the construction company’s stock after purchasing an additional 62 shares during the period. AMG National Trust Bank’s holdings in Martin Marietta Materials were worth $236,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of Martin Marietta Materials by 76.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after buying an additional 704,460 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Martin Marietta Materials by 114.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after acquiring an additional 523,038 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Martin Marietta Materials by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock valued at $337,903,000 after purchasing an additional 12,759 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Martin Marietta Materials by 54.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after purchasing an additional 164,503 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Martin Marietta Materials by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after purchasing an additional 11,749 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $582.68 on Wednesday. Martin Marietta Materials, Inc. has a 1 year low of $451.37 and a 1 year high of $633.23. The stock has a market capitalization of $35.61 billion, a PE ratio of 18.16, a PEG ratio of 3.90 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The stock has a 50-day simple moving average of $559.08 and a 200-day simple moving average of $556.37.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the company earned $6.94 EPS. On average, analysts predict that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s payout ratio is 9.85%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MLM. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. UBS Group initiated coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $730.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley boosted their target price on 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 lowered their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.85.

Martin Marietta Materials Company 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.