BNP Paribas Financial Markets Buys 47 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

BNP Paribas Financial Markets increased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,279 shares of the construction company’s stock after acquiring an additional 47 shares during the period. BNP Paribas Financial Markets’ holdings in Martin Marietta Materials were worth $38,366,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. raised its stake in shares of Martin Marietta Materials by 411.1% in the 2nd 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 grew its holdings in shares of Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares in the last quarter. First Personal Financial Services acquired a new stake in Martin Marietta Materials in the 3rd quarter valued at approximately $33,000. Fortitude Family Office LLC lifted its stake in Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after acquiring an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in Martin Marietta Materials during the 1st quarter worth approximately $41,000. 95.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MLM. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Barclays boosted their price target 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, October 29th. BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Truist Financial dropped their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Morgan Stanley raised their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $644.46.

Martin Marietta Materials Stock Down 0.2 %

MLM opened at $595.60 on Friday. The stock’s fifty day simple moving average is $570.11 and its 200 day simple moving average is $556.63. Martin Marietta Materials, Inc. has a 1-year low of $456.83 and a 1-year high of $633.23. The stock has a market cap of $36.40 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 4.10 and a beta of 0.90. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the company earned $6.94 earnings per share. Martin Marietta Materials’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, research analysts expect that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s payout ratio is 9.85%.

About Martin Marietta Materials

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.