JPMorgan Chase & Co. lessened its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 24.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,229,587 shares of the construction company’s stock after selling 705,196 shares during the quarter. JPMorgan Chase & Co.’s holdings in Martin Marietta Materials were worth $1,388,277,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Optima Capital LLC acquired a new stake in Martin Marietta Materials during the 4th quarter valued at approximately $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Martin Marietta Materials during the 3rd quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new stake in Martin Marietta Materials during the 3rd quarter valued at approximately $32,000. Union Bancaire Privee UBP SA acquired a new stake in Martin Marietta Materials during the 4th quarter valued at approximately $36,000. Finally, Osterweis Capital Management Inc. acquired a new stake in Martin Marietta Materials during the 2nd quarter valued at approximately $37,000. Institutional investors and hedge funds own 95.04% of the company’s stock.
Martin Marietta Materials Trading Down 3.8%
NYSE:MLM opened at $554.24 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $590.79 and its two-hundred day moving average is $619.94. Martin Marietta Materials, Inc. has a 52 week low of $525.38 and a 52 week high of $710.97. The company has a market cap of $33.28 billion, a PE ratio of 13.21, a P/E/G ratio of 2.44 and a beta of 1.10.
Martin Marietta Materials Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 7.91%.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Jefferies Financial Group restated a “buy” rating and set a $785.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Barclays lowered their price objective on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. UBS Group set a $739.00 price objective on Martin Marietta Materials in a research note on Sunday, May 10th. DA Davidson set a $680.00 price objective on Martin Marietta Materials in a research note on Thursday, February 12th. Finally, B. Riley Financial upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective for the company in a research note on Thursday, April 2nd. Eleven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $681.94.
Get Our Latest Analysis on Martin Marietta Materials
Martin Marietta Materials Profile
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.
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