Investors Buy Martin Marietta Materials (MLM) on Weakness

Investors bought shares of Martin Marietta Materials, Inc. (NYSE:MLM) on weakness during trading on Friday. $30.95 million flowed into the stock on the tick-up and $25.78 million flowed out of the stock on the tick-down, for a money net flow of $5.17 million into the stock. Of all stocks tracked, Martin Marietta Materials had the 22nd highest net in-flow for the day. Martin Marietta Materials traded down ($0.54) for the day and closed at $211.58

A number of research firms have issued reports on MLM. Alembic Global Advisors reissued a “buy” rating on shares of Martin Marietta Materials in a report on Wednesday, February 14th. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Friday, January 19th. Stephens restated a “hold” rating and issued a $250.00 target price on shares of Martin Marietta Materials in a research report on Wednesday, January 3rd. DA Davidson restated a “hold” rating and issued a $225.00 target price on shares of Martin Marietta Materials in a research report on Friday, November 3rd. Finally, Barclays initiated coverage on shares of Martin Marietta Materials in a research report on Tuesday, December 12th. They issued an “equal weight” rating and a $227.00 target price for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $243.25.

The company has a market cap of $13,330.00, a PE ratio of 30.89, a P/E/G ratio of 3.08 and a beta of 1.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 2.73.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, February 13th. The construction company reported $1.88 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 analysts’ expectations of $924.30 million. Martin Marietta Materials had a net margin of 17.99% and a return on equity of 10.85%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 EPS. equities research analysts predict that Martin Marietta Materials, Inc. will post 8.53 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Monday, March 5th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.83%. Martin Marietta Materials’s dividend payout ratio is 25.69%.

In related news, Director Laree E. Perez sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $214.00, for a total transaction of $642,000.00. Following the completion of the transaction, the director now directly owns 16,751 shares in the company, valued at approximately $3,584,714. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.45% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Chemical Bank increased its position in Martin Marietta Materials by 6.9% during the 4th quarter. Chemical Bank now owns 9,460 shares of the construction company’s stock worth $2,091,000 after purchasing an additional 609 shares in the last quarter. Ackerman Capital Advisors LLC acquired a new position in Martin Marietta Materials during the 4th quarter worth approximately $301,000. Colonial Trust Advisors increased its position in Martin Marietta Materials by 100.0% during the 4th quarter. Colonial Trust Advisors now owns 23,370 shares of the construction company’s stock worth $5,166,000 after purchasing an additional 11,685 shares in the last quarter. Xact Kapitalforvaltning AB increased its position in Martin Marietta Materials by 7.6% during the 4th quarter. Xact Kapitalforvaltning AB now owns 9,734 shares of the construction company’s stock worth $2,152,000 after purchasing an additional 688 shares in the last quarter. Finally, Handelsbanken Fonder AB acquired a new position in Martin Marietta Materials during the 4th quarter worth approximately $7,549,000. Institutional investors and hedge funds own 96.45% 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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