One Wealth Capital Management LLC bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 437 shares of the construction company’s stock, valued at approximately $226,000.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nordea Investment Management AB boosted its stake in Martin Marietta Materials by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 4,918 shares of the construction company’s stock worth $2,564,000 after buying an additional 302 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of Martin Marietta Materials during the 4th quarter worth $480,000. GAMMA Investing LLC boosted its position in shares of Martin Marietta Materials by 2.2% during the 4th quarter. GAMMA Investing LLC now owns 1,189 shares of the construction company’s stock valued at $614,000 after acquiring an additional 26 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Martin Marietta Materials by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after acquiring an additional 506,705 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Martin Marietta Materials by 1.9% in the third quarter. Franklin Resources Inc. now owns 534,801 shares of the construction company’s stock valued at $295,397,000 after purchasing an additional 9,908 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
MLM has been the topic of a number of research analyst reports. Barclays lifted their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Jefferies Financial Group decreased their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $515.00 to $640.00 in a research report on Wednesday, November 27th. HSBC raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price on the stock in a research report on Wednesday, December 11th. Finally, StockNews.com cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $649.54.
Martin Marietta Materials Stock Down 1.9 %
NYSE:MLM traded down $9.93 during trading hours on Tuesday, hitting $507.44. The company’s stock had a trading volume of 341,149 shares, compared to its average volume of 351,490. The stock has a market capitalization of $31.01 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 3.74 and a beta of 0.91. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average of $569.75 and a 200-day moving average of $552.12. Martin Marietta Materials, Inc. has a 52-week low of $485.31 and a 52-week high of $633.23.
Martin Marietta Materials (NYSE:MLM – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $6.94 earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.
Martin Marietta Materials Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Monday, December 2nd. Martin Marietta Materials’s payout ratio is currently 9.85%.
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.
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