1,080 Shares in Martin Marietta Materials, Inc. (NYSE:MLM) Purchased by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLMFree Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,080 shares of the construction company’s stock, valued at approximately $653,000.

Other hedge funds also recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in shares of Martin Marietta Materials during the first quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in Martin Marietta Materials during the 4th quarter worth $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the 1st quarter worth $31,000. Pinnacle Bancorp Inc. purchased a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $26,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth about $27,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MLM has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Stifel Nicolaus reduced their price target on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. The Goldman Sachs Group upped their price objective on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Finally, StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $610.25.

View Our Latest Report on MLM

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock traded up $0.34 on Wednesday, hitting $531.01. The company’s stock had a trading volume of 20,207 shares, compared to its average volume of 424,269. The company has a market capitalization of $32.73 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 2.36 and a beta of 0.91. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week high of $626.67. The firm has a fifty day moving average price of $565.54 and a 200-day moving average price of $559.22. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLMGet Free Report) last announced its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.16 earnings per share. On average, equities research analysts expect that Martin Marietta Materials, Inc. will post 23.03 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.77%.

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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