Marsico Capital Management LLC acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 19,533 shares of the construction company’s stock, valued at approximately $12,162,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Optima Capital LLC purchased a new position in Martin Marietta Materials during the fourth quarter worth $25,000. KERR FINANCIAL PLANNING Corp purchased a new position in Martin Marietta Materials during the third quarter worth $27,000. Redmont Wealth Advisors LLC purchased a new position in Martin Marietta Materials during the third quarter worth $32,000. Union Bancaire Privee UBP SA purchased a new position in Martin Marietta Materials during the fourth quarter worth $36,000. Finally, Osterweis Capital Management Inc. purchased a new position in Martin Marietta Materials during the second quarter worth $37,000. 95.04% of the stock is owned by institutional investors and hedge funds.
Martin Marietta Materials Price Performance
Shares of NYSE:MLM opened at $565.58 on Friday. The company has a market cap of $33.96 billion, a P/E ratio of 13.48, a P/E/G ratio of 2.35 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a 52 week low of $525.38 and a 52 week high of $710.97. The business has a fifty day simple moving average of $589.95 and a 200-day simple moving average of $619.18.
Martin Marietta Materials Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be given 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 payout ratio is 7.91%.
Analyst Ratings Changes
Several equities analysts have weighed in on MLM shares. Morgan Stanley dropped their price target on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research report on Monday, April 6th. Zacks Research raised Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. B. Riley Financial raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective for the company in a research report on Thursday, April 2nd. Oppenheimer started coverage on Martin Marietta Materials in a research report on Thursday, May 28th. They issued a “market perform” rating for the company. Finally, Wells Fargo & Company lifted their price objective on Martin Marietta Materials from $608.00 to $614.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Ten research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $681.94.
View Our Latest Research Report on MLM
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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