Quantitative Investment Management LLC acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) during the 2nd quarter, Holdings Channel reports. The fund acquired 1,324 shares of the construction company’s stock, valued at approximately $763,000.
A number of other institutional investors have also recently bought and sold shares of MLM. Lido Advisors LLC raised its holdings in shares of Martin Marietta Materials by 0.8% in the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock worth $1,209,000 after purchasing an additional 15 shares during the period. Harbour Investments Inc. lifted its stake in shares of Martin Marietta Materials by 31.4% in the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock worth $42,000 after acquiring an additional 16 shares in the last quarter. AMG National Trust Bank grew its position in shares of Martin Marietta Materials by 3.6% during the first quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock worth $291,000 after buying an additional 17 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Martin Marietta Materials by 0.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock worth $1,361,000 after purchasing an additional 17 shares during the last quarter. Finally, AlTi Global Inc. increased its holdings in Martin Marietta Materials by 1.2% in the first quarter. AlTi Global Inc. now owns 1,496 shares of the construction company’s stock valued at $881,000 after buying an additional 18 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
MLM has been the topic of a number of recent research reports. Sanford C. Bernstein cut shares of Martin Marietta Materials to an “underweight” rating in a report on Wednesday. Wells Fargo & Company decreased their price objective on shares of Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating for the company in a report on Friday, July 31st. JPMorgan Chase & Co. dropped their price target on shares of Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Oppenheimer initiated coverage on Martin Marietta Materials in a research report on Thursday, May 28th. They issued a “market perform” rating for the company. Finally, Royal Bank Of Canada lifted their price target on Martin Marietta Materials from $610.00 to $620.00 and gave the company a “sector perform” rating in a report on Friday, August 28th. Ten research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $665.88.
Martin Marietta Materials Stock Performance
MLM stock opened at $504.85 on Wednesday. The company has a 50 day moving average price of $558.97 and a 200 day moving average price of $588.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73. The stock has a market capitalization of $30.33 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. Martin Marietta Materials, Inc. has a fifty-two week low of $502.56 and a fifty-two week high of $710.97.
Martin Marietta Materials (NYSE:MLM – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, beating analysts’ consensus estimates of $4.76 by $0.24. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the company posted $5.43 earnings per share. The firm’s revenue was up 21.0% on a year-over-year basis. Analysts forecast that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.
Martin Marietta Materials Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.84 per share. The ex-dividend date is Tuesday, September 1st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 annualized dividend and a yield of 0.7%. Martin Marietta Materials’s dividend payout ratio is currently 8.16%.
Martin Marietta Materials Company 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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