Jefferies Financial Group Inc. Acquires New Holdings in Martin Marietta Materials, Inc. $MLM

Jefferies Financial Group Inc. bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,624 shares of the construction company’s stock, valued at approximately $937,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new position in shares of Martin Marietta Materials during the second quarter valued at $9,819,000. Proficio Capital Partners LLC acquired a new stake in shares of Martin Marietta Materials in the second quarter valued at about $1,081,000. Stonebridge Capital Management Inc. acquired a new position in shares of Martin Marietta Materials in the second quarter worth approximately $317,000. Transamerica Financial Advisors LLC bought a new stake in Martin Marietta Materials in the second quarter valued at approximately $69,000. Finally, Corient Private Wealth LP acquired a new stake in Martin Marietta Materials during the 2nd quarter valued at approximately $64,589,000. 95.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MLM shares. Wolfe Research set a $648.00 price target on shares of Martin Marietta Materials in a research report on Tuesday, August 4th. Citigroup cut their price target on shares of Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Truist Financial increased their price target on Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Berenberg Bank set a $556.00 price objective on Martin Marietta Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $665.88.

Martin Marietta Materials Stock Up 0.0%

Shares of NYSE MLM opened at $531.11 on Monday. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The firm has a market cap of $31.90 billion, a PE ratio of 13.05, a P/E/G ratio of 2.29 and a beta of 1.11. The company’s fifty day simple moving average is $562.81 and its 200 day simple moving average is $590.46. Martin Marietta Materials, Inc. has a 12-month low of $522.19 and a 12-month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, beating the consensus estimate of $4.76 by $0.24. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm posted $5.43 earnings per share. The business’s revenue was up 21.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. Martin Marietta Materials’s dividend payout ratio is presently 8.16%.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.