DNB Asset Management AS Purchases 498 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

DNB Asset Management AS boosted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,141 shares of the construction company’s stock after purchasing an additional 498 shares during the quarter. DNB Asset Management AS’s holdings in Martin Marietta Materials were worth $6,036,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. First Hawaiian Bank boosted its stake in Martin Marietta Materials by 9.2% in the 2nd quarter. First Hawaiian Bank now owns 3,652 shares of the construction company’s stock valued at $1,979,000 after purchasing an additional 309 shares during the period. GAMMA Investing LLC lifted its position in shares of Martin Marietta Materials by 18.9% during the 2nd quarter. GAMMA Investing LLC now owns 973 shares of the construction company’s stock valued at $527,000 after acquiring an additional 155 shares during the period. Confluence Investment Management LLC lifted its position in shares of Martin Marietta Materials by 79.8% during the 2nd quarter. Confluence Investment Management LLC now owns 65,254 shares of the construction company’s stock valued at $35,355,000 after acquiring an additional 28,960 shares during the period. SRN Advisors LLC lifted its position in shares of Martin Marietta Materials by 5.0% during the 1st quarter. SRN Advisors LLC now owns 2,978 shares of the construction company’s stock valued at $1,828,000 after acquiring an additional 142 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Martin Marietta Materials by 3.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 200,340 shares of the construction company’s stock valued at $121,967,000 after acquiring an additional 6,522 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MLM has been the subject of a number of recent analyst reports. Citigroup cut their target price on Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. StockNews.com downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Stifel Nicolaus cut their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Jefferies Financial Group boosted their price target on Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Loop Capital lowered their price target on Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $628.91.

Martin Marietta Materials Price Performance

MLM traded down $7.52 on Tuesday, reaching $544.84. The stock had a trading volume of 653,028 shares, compared to its average volume of 439,331. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The firm has a 50-day moving average of $555.74 and a 200-day moving average of $568.11. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $33.58 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 3.12 and a beta of 0.91.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were issued a $0.74 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.96 dividend on an annualized basis and a yield of 0.54%. Martin Marietta Materials’s payout ratio is presently 8.77%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.