V Square Quantitative Management LLC Reduces Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

V Square Quantitative Management LLC lessened its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,057 shares of the construction company’s stock after selling 76 shares during the quarter. V Square Quantitative Management LLC’s holdings in Martin Marietta Materials were worth $573,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Martin Marietta Materials in the 4th quarter valued at $25,000. Riverview Trust Co purchased a new position in shares of Martin Marietta Materials in the 1st quarter valued at $26,000. Benjamin Edwards Inc. raised its stake in shares of Martin Marietta Materials by 78.8% in the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after acquiring an additional 26 shares during the period. Oliver Lagore Vanvalin Investment Group raised its stake in shares of Martin Marietta Materials by 74.3% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company’s stock valued at $30,000 after acquiring an additional 26 shares during the period. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Martin Marietta Materials in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MLM. Truist Financial cut 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 note on Friday, August 9th. Citigroup dropped their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday. Loop Capital dropped their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research report on Tuesday. The Goldman Sachs Group boosted their target price on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Jefferies Financial Group lifted their price target on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $624.18.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM traded down $0.60 during trading hours on Wednesday, hitting $526.45. 202,988 shares of the stock were exchanged, compared to its average volume of 443,933. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. The company’s 50 day moving average is $551.54 and its 200 day moving average is $569.81. The firm has a market capitalization of $32.45 billion, a P/E ratio of 15.62, a P/E/G ratio of 3.12 and a beta of 0.91. Martin Marietta Materials, Inc. has a one year low of $389.90 and a one year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.36 by ($0.60). The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.83 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. Martin Marietta Materials’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $5.60 earnings per share. On average, research analysts expect that Martin Marietta Materials, Inc. will post 22.86 EPS for the current year.

Martin Marietta Materials Dividend Announcement

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

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.