Nisa Investment Advisors LLC lifted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 158.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,950 shares of the construction company’s stock after acquiring an additional 6,100 shares during the period. Nisa Investment Advisors LLC’s holdings in Martin Marietta Materials were worth $2,199,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of MLM. Iridian Asset Management LLC CT raised its stake in shares of Martin Marietta Materials by 54.6% in the 3rd quarter. Iridian Asset Management LLC CT now owns 1,785,402 shares of the construction company’s stock valued at $368,203,000 after acquiring an additional 630,357 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Martin Marietta Materials by 22.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,578,296 shares of the construction company’s stock valued at $323,552,000 after acquiring an additional 285,376 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Martin Marietta Materials by 20.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,660,752 shares of the construction company’s stock valued at $342,497,000 after acquiring an additional 282,189 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of Martin Marietta Materials by 18,467.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 269,606 shares of the construction company’s stock valued at $55,601,000 after acquiring an additional 268,154 shares in the last quarter. Finally, CI Investments Inc. bought a new position in shares of Martin Marietta Materials in the 3rd quarter valued at approximately $54,546,000. 97.22% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Friday. Barclays started coverage on Martin Marietta Materials in a report on Tuesday, December 12th. They issued an “equal weight” rating and a $227.00 target price on the stock. DA Davidson reaffirmed a “hold” rating and issued a $225.00 target price on shares of Martin Marietta Materials in a report on Friday, November 3rd. SunTrust Banks reaffirmed a “buy” rating and issued a $228.00 target price on shares of Martin Marietta Materials in a report on Friday, October 27th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $240.00 target price on shares of Martin Marietta Materials in a report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Martin Marietta Materials presently has a consensus rating of “Hold” and an average target price of $240.50.
Shares of Martin Marietta Materials, Inc. (MLM) opened at $226.98 on Friday. The stock has a market capitalization of $14,246.49, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 1.89 and a beta of 1.12. The company has a quick ratio of 1.50, a current ratio of 2.73 and a debt-to-equity ratio of 0.38. Martin Marietta Materials, Inc. has a fifty-two week low of $191.09 and a fifty-two week high of $244.32.
Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, November 2nd. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.45 by ($0.06). The business had revenue of $1.02 million during the quarter, compared to analyst estimates of $1.07 billion. Martin Marietta Materials had a net margin of 11.03% and a return on equity of 10.39%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business earned $2.49 EPS. equities research analysts forecast that Martin Marietta Materials, Inc. will post 6.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Thursday, November 30th. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 25.66%.
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Martin Marietta Materials Profile
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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