Martin Marietta Materials, Inc. (NYSE:MLM) Shares Bought by SteelPeak Wealth LLC

by · The Markets Daily

SteelPeak Wealth LLC grew its position in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 5.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,201 shares of the construction company’s stock after acquiring an additional 151 shares during the quarter. SteelPeak Wealth LLC’s holdings in Martin Marietta Materials were worth $1,723,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Martin Marietta Materials by 114.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after buying an additional 523,038 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Martin Marietta Materials by 247.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock valued at $80,634,000 after acquiring an additional 106,002 shares during the period. M&G Plc purchased a new stake in Martin Marietta Materials during the 1st quarter valued at approximately $41,142,000. Assenagon Asset Management S.A. lifted its position in Martin Marietta Materials by 682.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 75,045 shares of the construction company’s stock worth $40,393,000 after acquiring an additional 65,454 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of Martin Marietta Materials by 46,996.7% during the third quarter. International Assets Investment Management LLC now owns 56,516 shares of the construction company’s stock worth $30,420,000 after purchasing an additional 56,396 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MLM shares. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Morgan Stanley raised their price objective on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Loop Capital lowered their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Citigroup decreased their price target on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. reduced their price objective on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $621.50.

Check Out Our Latest Stock Report on Martin Marietta Materials

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $604.71 on Thursday. The stock has a fifty day moving average price of $538.61 and a 200 day moving average price of $555.78. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45. Martin Marietta Materials, Inc. has a 52 week low of $404.93 and a 52 week high of $626.67. The firm has a market capitalization of $36.96 billion, a P/E ratio of 18.38, a PEG ratio of 4.62 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM – Get Free Report) last released its earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the business posted $5.60 earnings per share. Martin Marietta Materials’s revenue was down 3.1% on a year-over-year basis. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.52%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is presently 9.60%.

Martin Marietta Materials Profile

(Free Report)

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.

Featured Stories