Amundi Pioneer Asset Management Inc. purchased a new position in shares of Martin Marietta Materials (NYSE:MLM) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 20,740 shares of the construction company’s stock, valued at approximately $4,583,000.
A number of other hedge funds have also recently bought and sold shares of MLM. Nationwide Fund Advisors raised its stake in Martin Marietta Materials by 12.0% during the 3rd quarter. Nationwide Fund Advisors now owns 52,596 shares of the construction company’s stock worth $10,847,000 after buying an additional 5,640 shares during the period. New York State Common Retirement Fund raised its stake in shares of Martin Marietta Materials by 13.5% in the third quarter. New York State Common Retirement Fund now owns 218,155 shares of the construction company’s stock worth $44,990,000 after purchasing an additional 25,915 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Martin Marietta Materials by 19.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,130 shares of the construction company’s stock worth $1,058,000 after purchasing an additional 826 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Martin Marietta Materials by 111.5% in the third quarter. Ameriprise Financial Inc. now owns 335,722 shares of the construction company’s stock worth $69,236,000 after purchasing an additional 176,968 shares during the last quarter. Finally, Stephens Inc. AR raised its stake in shares of Martin Marietta Materials by 10.1% in the third quarter. Stephens Inc. AR now owns 10,924 shares of the construction company’s stock worth $2,253,000 after purchasing an additional 1,006 shares during the last quarter. 99.26% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented on the company. Citigroup increased their price objective on Martin Marietta Materials from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Zacks Investment Research raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Stephens reissued a “hold” rating and issued a $250.00 price objective on shares of Martin Marietta Materials in a research note on Wednesday, January 3rd. Alembic Global Advisors reissued a “buy” rating on shares of Martin Marietta Materials in a research note on Wednesday, February 14th. Finally, SunTrust Banks reissued a “buy” rating and issued a $245.00 price objective on shares of Martin Marietta Materials in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Martin Marietta Materials has an average rating of “Hold” and a consensus price target of $243.25.
Martin Marietta Materials stock opened at $206.74 on Thursday. The stock has a market capitalization of $12,843.21, a P/E ratio of 18.36, a PEG ratio of 2.94 and a beta of 1.17. The company has a quick ratio of 2.93, a current ratio of 3.79 and a debt-to-equity ratio of 0.58. Martin Marietta Materials has a twelve month low of $191.09 and a twelve month high of $244.32.
Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, February 13th. The construction company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.46. The company had revenue of $911.30 million during the quarter, compared to analyst estimates of $924.30 million. Martin Marietta Materials had a return on equity of 10.55% and a net margin of 17.99%. Martin Marietta Materials’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.55 earnings per share. analysts anticipate that Martin Marietta Materials will post 8.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Monday, March 5th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Friday, March 2nd. Martin Marietta Materials’s dividend payout ratio is presently 15.63%.
In other news, Director Laree E. Perez sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $214.00, for a total value of $642,000.00. Following the completion of the transaction, the director now directly owns 16,751 shares of the company’s stock, valued at $3,584,714. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.45% of the company’s stock.
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About Martin Marietta Materials
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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