Stephens Inc. AR grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 11.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,326 shares of the construction company’s stock after purchasing an additional 5,150 shares during the period. Stephens Inc. AR’s holdings in Martin Marietta Materials were worth $31,958,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Optima Capital LLC purchased a new stake in shares of Martin Marietta Materials during the fourth quarter valued at approximately $25,000. Quent Capital LLC purchased a new stake in shares of Martin Marietta Materials during the third quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Martin Marietta Materials during the third quarter valued at approximately $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the third quarter valued at approximately $32,000. Finally, Grey Fox Wealth Advisors LLC bought a new stake in shares of Martin Marietta Materials in the third quarter worth $33,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on MLM. Jefferies Financial Group restated a “buy” rating and issued a $785.00 price target on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Wall Street Zen upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. B. Riley Financial upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price target for the company in a research note on Thursday, April 2nd. Wells Fargo & Company lifted 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 note on Friday, May 1st. Finally, Zacks Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $689.81.
Martin Marietta Materials Stock Down 2.9%
Shares of NYSE:MLM opened at $558.82 on Friday. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The company has a fifty day simple moving average of $599.57 and a 200 day simple moving average of $625.39. The firm has a market cap of $33.56 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. Martin Marietta Materials, Inc. has a 12-month low of $532.80 and a 12-month high of $710.97.
Martin Marietta Materials (NYSE:MLM – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.90 earnings per share. On average, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.32 EPS for the current fiscal 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 issued a $0.83 dividend. 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 currently 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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