Dockside LLC acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,986 shares of the construction company’s stock, valued at approximately $3,727,000. Martin Marietta Materials comprises 1.0% of Dockside LLC’s investment portfolio, making the stock its 26th largest position.
Other institutional investors have also bought and sold shares of the company. Optima Capital LLC purchased a new position in Martin Marietta Materials in the fourth quarter valued at approximately $25,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Martin Marietta Materials during the 3rd quarter worth $27,000. Redmont Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials during the 3rd quarter worth $32,000. Union Bancaire Privee UBP SA bought a new position in shares of Martin Marietta Materials during the 4th quarter worth $36,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of Martin Marietta Materials during the 2nd quarter worth $37,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.
Martin Marietta Materials Stock Up 1.8%
Shares of NYSE MLM opened at $575.51 on Friday. Martin Marietta Materials, Inc. has a 52 week low of $525.38 and a 52 week high of $710.97. The business has a 50-day simple moving average of $589.47 and a two-hundred day simple moving average of $618.88. 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 company has a market cap of $34.56 billion, a P/E ratio of 13.72, a P/E/G ratio of 2.45 and a beta of 1.10.
Martin Marietta Materials Announces Dividend
The business also recently announced 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 is Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 7.91%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on MLM. Morgan Stanley cut their price target on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research note on Monday, April 6th. Weiss Ratings downgraded Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 8th. Jefferies Financial Group reiterated a “buy” rating and set a $785.00 price target on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Zacks Research upgraded Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Finally, UBS Group set a $739.00 price target on Martin Marietta Materials in a research note on Sunday, May 10th. Ten analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and an average target price of $681.94.
Get Our Latest Analysis on Martin Marietta Materials
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.
Further Reading
- Five stocks we like better than Martin Marietta Materials
- Time to Sell? 3 Winners With Fading Technical Momentum
- Why These 2 Hotel Stocks Are Beating Travel Peers
- This Energy Stock Has Quietly Soared 130% in a Year
- 3 ‘Boring’ Dividend Stocks With Tasty Technical Setups
Want to see what other hedge funds are holding MLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Martin Marietta Materials, Inc. (NYSE:MLM – Free Report).
Receive News & Ratings for Martin Marietta Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials and related companies with MarketBeat.com's FREE daily email newsletter.
