Interval Partners LP bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 207,170 shares of the construction company’s stock, valued at approximately $128,996,000. Martin Marietta Materials makes up about 2.3% of Interval Partners LP’s investment portfolio, making the stock its 4th biggest position. Interval Partners LP owned 0.34% of Martin Marietta Materials at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Investment Management Corp of Ontario raised its holdings in shares of Martin Marietta Materials by 34.4% in the 4th quarter. Investment Management Corp of Ontario now owns 5,207 shares of the construction company’s stock worth $3,242,000 after purchasing an additional 1,334 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Martin Marietta Materials by 0.9% during the fourth quarter. Janus Henderson Group PLC now owns 56,626 shares of the construction company’s stock valued at $35,260,000 after acquiring an additional 526 shares during the period. Gotham Asset Management LLC raised its holdings in shares of Martin Marietta Materials by 0.5% during the fourth quarter. Gotham Asset Management LLC now owns 14,885 shares of the construction company’s stock valued at $9,268,000 after acquiring an additional 70 shares during the period. Evolve Private Wealth LLC acquired a new stake in shares of Martin Marietta Materials during the fourth quarter valued at approximately $743,000. Finally, Ehrenkranz Partners L.P. acquired a new stake in shares of Martin Marietta Materials during the fourth quarter valued at approximately $306,000. 95.04% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on MLM shares. Royal Bank Of Canada cut their price target on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating on the stock in a report on Monday, May 4th. Weiss Ratings lowered shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 8th. Jefferies Financial Group restated a “buy” rating and set a $785.00 price target on shares of Martin Marietta Materials in a report on Thursday, February 26th. Berenberg Bank set a $556.00 price target on shares of Martin Marietta Materials and gave the company a “hold” rating in a report on Tuesday, June 2nd. Finally, Morgan Stanley cut their price target on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a report on Monday, April 6th. Ten research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $681.94.
Martin Marietta Materials Stock Performance
Shares of MLM opened at $590.40 on Thursday. The company’s 50 day moving average price is $589.25 and its 200 day moving average price is $618.41. 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 capitalization of $35.45 billion, a PE ratio of 14.07, a PEG ratio of 2.56 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.
Martin Marietta Materials (NYSE:MLM – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 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 the consensus estimate of $1.31 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The firm’s revenue was up 17.2% on a year-over-year basis. Research analysts expect that Martin Marietta Materials, Inc. will post 19.41 EPS for the current fiscal year.
Martin Marietta Materials Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be given a dividend of $0.83 per share. 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 payout ratio is presently 7.91%.
About Martin Marietta Materials
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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