Huntington National Bank Acquires 220 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Huntington National Bank grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,521 shares of the construction company’s stock after buying an additional 220 shares during the period. Huntington National Bank’s holdings in Martin Marietta Materials were worth $2,972,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Avantax Advisory Services Inc. bought a new stake in shares of Martin Marietta Materials in the first quarter valued at approximately $276,000. HBK Sorce Advisory LLC bought a new position in Martin Marietta Materials during the 1st quarter worth $249,000. Blair William & Co. IL increased its position in Martin Marietta Materials by 4.9% during the 1st quarter. Blair William & Co. IL now owns 7,683 shares of the construction company’s stock valued at $4,717,000 after purchasing an additional 359 shares during the period. Dorsey & Whitney Trust CO LLC acquired a new position in Martin Marietta Materials in the first quarter valued at $317,000. Finally, Rodgers & Associates LTD bought a new stake in Martin Marietta Materials in the first quarter worth approximately $201,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $583.03 on Friday. The stock has a fifty day moving average price of $555.96 and a 200-day moving average price of $557.02. The firm has a market cap of $35.63 billion, a PE ratio of 18.17, a P/E/G ratio of 4.04 and a beta of 0.90. Martin Marietta Materials, Inc. has a 12 month low of $451.37 and a 12 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.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) 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 analyst estimates of $1.94 billion. During the same period in the previous year, the firm posted $6.94 earnings per share. The company’s revenue was down 5.3% compared to the same quarter last year. Equities research analysts predict that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be issued a $0.79 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Truist Financial reduced their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Jefferies Financial Group decreased their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Loop Capital raised 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 note on Thursday, October 31st. Finally, UBS Group initiated coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.85.

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.