Myriad Asset Management Advisors LLC purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) during the fourth quarter, Holdings Channel.com reports. The firm purchased 5,404 shares of the construction company’s stock, valued at approximately $3,365,000. Martin Marietta Materials comprises about 1.0% of Myriad Asset Management Advisors LLC’s investment portfolio, making the stock its 25th biggest position.
A number of other hedge funds have also modified their holdings of MLM. Caprock Group LLC acquired a new position in Martin Marietta Materials in the third quarter worth about $1,605,000. Pelham Capital Ltd. raised its position in Martin Marietta Materials by 57.1% in the third quarter. Pelham Capital Ltd. now owns 30,052 shares of the construction company’s stock worth $18,941,000 after purchasing an additional 10,917 shares in the last quarter. Douglass Winthrop Advisors LLC raised its position in Martin Marietta Materials by 0.8% in the third quarter. Douglass Winthrop Advisors LLC now owns 232,234 shares of the construction company’s stock worth $146,372,000 after purchasing an additional 1,939 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Martin Marietta Materials by 5.4% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,297 shares of the construction company’s stock worth $76,451,000 after purchasing an additional 6,209 shares in the last quarter. Finally, Citigroup Inc. raised its position in Martin Marietta Materials by 33.6% in the third quarter. Citigroup Inc. now owns 125,119 shares of the construction company’s stock worth $78,860,000 after purchasing an additional 31,463 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Martin Marietta Materials from $608.00 to $614.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Barclays dropped their price objective on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. B. Riley Financial raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective for the company in a report on Thursday, April 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $785.00 price objective on shares of Martin Marietta Materials in a report on Thursday, February 26th. Finally, Royal Bank Of Canada dropped their price objective on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating for the company in a report on Monday, May 4th. Ten equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and an average price target of $681.94.
Martin Marietta Materials Price Performance
Shares of MLM stock opened at $553.97 on Thursday. Martin Marietta Materials, Inc. has a 52-week low of $525.38 and a 52-week high of $710.97. The stock has a market cap of $33.27 billion, a PE ratio of 13.20, a PEG ratio of 2.43 and a beta of 1.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. The firm’s 50 day moving average price is $590.42 and its two-hundred day moving average price is $619.45.
Martin Marietta Materials (NYSE:MLM – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the firm earned $1.90 earnings per share. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. As a group, analysts forecast that Martin Marietta Materials, Inc. will post 19.41 EPS for the current year.
Martin Marietta Materials Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be paid a $0.83 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 7.91%.
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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