Banco Santander S.A. Invests $257,000 in Martin Marietta Materials, Inc. (NYSE:MLM)

by · The Markets Daily

Banco Santander S.A. bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 478 shares of the construction company’s stock, valued at approximately $257,000.

A number of other large investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. increased its position in shares of Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after acquiring an additional 37 shares during the last quarter. Asset Dedication LLC grew 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 valued at $30,000 after purchasing an additional 52 shares in the last quarter. First Personal Financial Services purchased a new stake in Martin Marietta Materials during the 3rd quarter worth approximately $33,000. Fortitude Family Office LLC raised its position in shares of 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 purchasing an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Martin Marietta Materials during the first quarter worth approximately $41,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Jefferies Financial Group cut their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Stephens reduced their price target on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Barclays lifted their price target on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Loop Capital increased their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, UBS Group started coverage on Martin Marietta Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $730.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.85.

Get Our Latest Research Report on Martin Marietta Materials

Martin Marietta Materials Trading Up 1.2 %

Martin Marietta Materials stock opened at $597.81 on Friday. Martin Marietta Materials, Inc. has a 52-week low of $456.83 and a 52-week high of $633.23. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $36.54 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 3.95 and a beta of 0.90. The firm has a 50-day moving average price of $565.21 and a two-hundred day moving average price of $556.75.

Martin Marietta Materials (NYSE:MLM – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. 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 earnings per share. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

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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