Summit Place Financial Advisors LLC Purchases 23 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Summit Place Financial Advisors LLC increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,862 shares of the construction company’s stock after acquiring an additional 23 shares during the quarter. Martin Marietta Materials comprises 1.7% of Summit Place Financial Advisors LLC’s holdings, making the stock its 23rd biggest position. Summit Place Financial Advisors LLC’s holdings in Martin Marietta Materials were worth $3,028,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Martin Marietta Materials by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after acquiring an additional 506,705 shares in the last quarter. FMR LLC raised its stake in shares of Martin Marietta Materials by 15.3% during the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock worth $1,353,936,000 after acquiring an additional 334,605 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Martin Marietta Materials by 11.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company’s stock worth $939,898,000 after acquiring an additional 191,043 shares in the last quarter. Franklin Resources Inc. increased its stake in Martin Marietta Materials by 1.9% during the 3rd quarter. Franklin Resources Inc. now owns 534,801 shares of the construction company’s stock valued at $295,397,000 after purchasing an additional 9,908 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in Martin Marietta Materials by 54.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after purchasing an additional 164,503 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Raymond James cut their price target on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Truist Financial cut their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Citigroup cut their price objective on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Stephens cut their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Finally, HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective on the stock in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $639.43.

Martin Marietta Materials Trading Up 1.3 %

Shares of Martin Marietta Materials stock opened at $534.34 on Wednesday. The company has a fifty day simple moving average of $533.74 and a 200-day simple moving average of $548.21. Martin Marietta Materials, Inc. has a 12-month low of $482.72 and a 12-month high of $633.23. The stock has a market cap of $32.66 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 4.61 and a beta of 0.91. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.61 EPS for the current fiscal year.

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.