Martin Marietta Materials, Inc. (NYSE:MLM – Get Rating) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 1,340,000 shares, an increase of 21.8% from the August 31st total of 1,100,000 shares. Currently, 2.2% of the company's stock are short sold. Based on an average trading volume of 399,500 shares, the days-to-cover ratio is currently 3.4 days.

Hedge Funds Weigh In On Martin Marietta Materials

Institutional investors have recently added to or reduced their stakes in the stock. Charter Oak Capital Management LLC bought a new position in Martin Marietta Materials during the second quarter valued at about $29,000. CX Institutional bought a new position in Martin Marietta Materials during the second quarter valued at about $31,000. Private Trust Co. NA bought a new position in Martin Marietta Materials during the second quarter valued at about $37,000. Clear Street Markets LLC grew its position in Martin Marietta Materials by 407.7% during the second quarter. Clear Street Markets LLC now owns 132 shares of the construction company's stock valued at $39,000 after buying an additional 106 shares during the period. Finally, Tcwp LLC bought a new position in Martin Marietta Materials during the first quarter valued at about $41,000. Institutional investors own 93.51% of the company's stock.

Martin Marietta Materials Stock Down 0.1 %

Shares of MLM stock traded down $0.32 on Friday, hitting $322.09. The stock had a trading volume of 712,293 shares, compared to its average volume of 390,722. The business has a 50 day moving average of $346.06 and a 200 day moving average of $343.75. The stock has a market cap of $20.09 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 1.59 and a beta of 0.87. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.63 and a quick ratio of 2.53. Martin Marietta Materials has a 12-month low of $284.99 and a 12-month high of $446.46.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 1st were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $2.64 annualized dividend and a yield of 0.82%. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.61. Martin Marietta Materials's dividend payout ratio is presently 20.67%.

Wall Street Analyst Weigh In

MLM has been the topic of several research analyst reports. StockNews.com raised shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Monday, August 1st. Raymond James reissued an "outperform" rating and set a $410.00 target price on shares of Martin Marietta Materials in a research note on Friday, August 19th. Truist Financial cut their target price on shares of Martin Marietta Materials to $392.00 in a research note on Tuesday, July 5th. Morgan Stanley upped their price objective on shares of Martin Marietta Materials from $394.00 to $420.00 and gave the stock an "overweight" rating in a report on Monday, August 1st. Finally, Exane BNP Paribas upgraded shares of Martin Marietta Materials from a "neutral" rating to an "outperform" rating in a report on Tuesday, September 20th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials currently has an average rating of "Moderate Buy" and an average price target of $411.18.

Martin Marietta Materials Company Profile

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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.

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