Profund Advisors LLC bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 695 shares of the construction company’s stock, valued at approximately $235,000.
Several other institutional investors and hedge funds have also bought and sold shares of MLM. Fiduciary Alliance LLC purchased a new stake in shares of Martin Marietta Materials during the fourth quarter valued at approximately $28,000. First Personal Financial Services bought a new position in shares of Martin Marietta Materials during the third quarter valued at approximately $30,000. Ronald Blue Trust Inc. raised its holdings in shares of Martin Marietta Materials by 64.9% during the fourth quarter. Ronald Blue Trust Inc. now owns 94 shares of the construction company’s stock valued at $31,000 after acquiring an additional 37 shares in the last quarter. Concord Wealth Partners bought a new position in Martin Marietta Materials in the 4th quarter worth $34,000. Finally, Arcus Capital Partners LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter valued at about $35,000. 93.07% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on MLM shares. Raymond James increased their price target on shares of Martin Marietta Materials from $389.00 to $405.00 and gave the stock an “outperform” rating in a research note on Thursday, February 16th. The Goldman Sachs Group upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and lifted their price target for the company from $420.00 to $428.00 in a research report on Monday, April 3rd. DA Davidson increased their price objective on shares of Martin Marietta Materials from $380.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, February 16th. Morgan Stanley reduced their price target on shares of Martin Marietta Materials from $390.00 to $386.00 and set an “equal weight” rating for the company in a research note on Thursday, April 20th. Finally, Atlantic Securities cut Martin Marietta Materials from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $375.00 to $350.00 in a report on Tuesday, January 24th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average target price of $404.83.
Martin Marietta Materials Trading Down 1.0 %
Martin Marietta Materials (NYSE:MLM – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The construction company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.03 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Martin Marietta Materials had a net margin of 14.07% and a return on equity of 11.03%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.15 EPS. As a group, analysts forecast that Martin Marietta Materials, Inc. will post 14.82 EPS for the current year.
Martin Marietta Materials Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Monday, March 6th were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, March 3rd. Martin Marietta Materials’s dividend payout ratio is currently 19.02%.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregated products only.
Read More
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