Martin Marietta Materials, Inc. (NYSE:MLM) Shares Bought by Charles Schwab Investment Management Inc.

by · The Markets Daily

Charles Schwab Investment Management Inc. increased its position in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 382,919 shares of the construction company’s stock after buying an additional 2,237 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Martin Marietta Materials were worth $206,106,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. CreativeOne Wealth LLC purchased a new position in shares of Martin Marietta Materials during the 1st quarter worth $204,000. Price T Rowe Associates Inc. MD boosted its stake in Martin Marietta Materials by 114.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after buying an additional 523,038 shares during the last quarter. Interval Partners LP boosted its stake in Martin Marietta Materials by 117.4% in the 1st quarter. Interval Partners LP now owns 95,810 shares of the construction company’s stock worth $58,822,000 after buying an additional 51,749 shares during the last quarter. Ancora Advisors LLC grew its holdings in Martin Marietta Materials by 25.1% in the 1st quarter. Ancora Advisors LLC now owns 8,603 shares of the construction company’s stock valued at $5,282,000 after buying an additional 1,726 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its stake in shares of Martin Marietta Materials by 17.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,297 shares of the construction company’s stock valued at $3,866,000 after acquiring an additional 952 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of MLM stock opened at $597.81 on Friday. The firm has a fifty day simple moving average of $565.21 and a 200-day simple moving average of $556.75. The company has a market capitalization of $36.54 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 3.95 and a beta of 0.90. Martin Marietta Materials, Inc. has a twelve month low of $456.83 and a twelve month high of $633.23. 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 – Get Free Report) last announced its earnings results 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 business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business earned $6.94 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a $0.79 dividend. 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 payout ratio is 9.85%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Truist Financial decreased their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Morgan Stanley boosted their price objective on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Barclays increased their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Stephens reduced their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. dropped their price target on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.85.

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Martin Marietta Materials Profile

(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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