BNP Paribas Financial Markets Acquires 47 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

BNP Paribas Financial Markets grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,279 shares of the construction company’s stock after purchasing an additional 47 shares during the period. BNP Paribas Financial Markets owned approximately 0.12% of Martin Marietta Materials worth $38,366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Newbridge Financial Services Group Inc. grew its position in Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after acquiring an additional 37 shares during the period. Asset Dedication LLC boosted its stake in shares of Martin Marietta Materials by 1,300.0% in 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 bought a new stake in shares of Martin Marietta Materials in the 3rd quarter worth about $33,000. Fortitude Family Office LLC increased its position in shares of Martin Marietta Materials by 186.4% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after purchasing an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new position in Martin Marietta Materials during the 1st quarter valued at about $41,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Down 0.2 %

MLM opened at $595.60 on Friday. The firm has a 50 day simple moving average of $570.11 and a 200 day simple moving average of $556.63. Martin Marietta Materials, Inc. has a fifty-two week low of $456.83 and a fifty-two week high of $633.23. The company has a market cap of $36.40 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 4.10 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS 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 the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm posted $6.94 EPS. The business’s revenue was down 5.3% on a year-over-year basis. On average, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 0.53%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MLM. JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $515.00 to $640.00 in a report on Wednesday. UBS Group assumed coverage on Martin Marietta Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective for the company. Citigroup decreased their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Truist Financial cut their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $644.46.

Martin Marietta Materials 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.