GDS Wealth Management Takes Position in Martin Marietta Materials, Inc. (NYSE:MLM)

GDS Wealth Management bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,772 shares of the construction company’s stock, valued at approximately $2,030,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. raised its holdings in Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after purchasing an additional 37 shares during the period. Asset Dedication LLC raised its stake in shares of Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares during the period. First Personal Financial Services acquired a new stake in Martin Marietta Materials in the 3rd quarter valued at $33,000. Fortitude Family Office LLC increased its holdings in Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after acquiring an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in Martin Marietta Materials during the first quarter worth $41,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Up 0.4 %

Shares of NYSE:MLM opened at $619.58 on Monday. Martin Marietta Materials, Inc. has a twelve month low of $448.73 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. The firm has a market cap of $37.87 billion, a P/E ratio of 19.31, a P/E/G ratio of 4.14 and a beta of 0.90. The company has a 50 day moving average of $549.06 and a 200-day moving average of $556.31.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the business posted $6.94 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Martin Marietta Materials in a research report on Thursday. They issued a “buy” rating and a $730.00 target price on the stock. Loop Capital increased their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Morgan Stanley boosted their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Citigroup reduced their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Jefferies Financial Group dropped their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Four investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $634.85.

About Martin Marietta Materials

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.