Edge Capital Group LLC Invests $217,000 in Martin Marietta Materials, Inc. (NYSE:MLM)

Edge Capital Group LLC purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, Holdings Channel reports. The firm purchased 420 shares of the construction company’s stock, valued at approximately $217,000.

Several other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of Martin Marietta Materials by 76.2% during the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after acquiring an additional 704,460 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after buying an additional 506,705 shares during the period. FMR LLC grew its position in shares of Martin Marietta Materials by 15.3% in the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock worth $1,353,936,000 after buying an additional 334,605 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of Martin Marietta Materials by 7,608.2% during the third quarter. Public Sector Pension Investment Board now owns 181,373 shares of the construction company’s stock valued at $97,624,000 after buying an additional 179,020 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its holdings in shares of Martin Marietta Materials by 54.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after acquiring an additional 164,503 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 0.2 %

Shares of Martin Marietta Materials stock opened at $490.60 on Tuesday. The company has a 50-day simple moving average of $528.99 and a two-hundred day simple moving average of $546.80. The stock has a market capitalization of $29.99 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 4.45 and a beta of 0.91. Martin Marietta Materials, Inc. has a 52-week low of $482.72 and a 52-week high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. On average, analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.77%.

Analyst Ratings Changes

Several research firms recently weighed in on MLM. Morgan Stanley cut their price target on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. UBS Group assumed coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 target price on the stock. Truist Financial decreased their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Loop Capital cut their price objective on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, HSBC raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $639.43.

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.