Federated Hermes Inc. Buys 1,495 Shares of Martin Marietta Materials, Inc. $MLM

Federated Hermes Inc. boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 90,738 shares of the construction company’s stock after buying an additional 1,495 shares during the period. Federated Hermes Inc. owned approximately 0.15% of Martin Marietta Materials worth $49,812,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of MLM. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials in the second quarter valued at approximately $28,000. Zions Bancorporation National Association UT acquired a new stake in Martin Marietta Materials during the 1st quarter worth approximately $30,000. NewSquare Capital LLC boosted its stake in Martin Marietta Materials by 62.2% in the 2nd quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock valued at $33,000 after purchasing an additional 23 shares during the period. Clearstead Trust LLC grew its holdings in Martin Marietta Materials by 93.8% in the 2nd quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock valued at $34,000 after buying an additional 30 shares in the last quarter. Finally, Aspect Partners LLC grew its holdings in Martin Marietta Materials by 540.0% in the 2nd quarter. Aspect Partners LLC now owns 64 shares of the construction company’s stock valued at $35,000 after buying an additional 54 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MLM shares. Wells Fargo & Company dropped their target price on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Thursday, November 6th. Raymond James Financial raised their price target on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Wednesday, October 8th. Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Finally, UBS Group lifted their price target on shares of Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $647.81.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $622.00 on Tuesday. The firm has a 50 day moving average of $619.38 and a 200-day moving average of $594.83. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $665.18. The company has a current ratio of 2.97, a quick ratio of 2.07 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $37.51 billion, a PE ratio of 32.79 and a beta of 1.16.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.62 by ($0.65). Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%.The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.06 billion. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials’s payout ratio is 17.50%.

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.