Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 12.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,270 shares of the construction company’s stock after purchasing an additional 1,403 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Martin Marietta Materials were worth $3,384,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. State Street Corp grew its stake in Martin Marietta Materials by 2.8% in the third quarter. State Street Corp now owns 2,676,839 shares of the construction company’s stock worth $733,722,000 after purchasing an additional 72,397 shares during the period. Eagle Asset Management Inc. grew its stake in Martin Marietta Materials by 7.4% in the third quarter. Eagle Asset Management Inc. now owns 523,809 shares of the construction company’s stock worth $143,576,000 after purchasing an additional 36,063 shares during the period. Carillon Tower Advisers Inc. boosted its holdings in Martin Marietta Materials by 5.7% in the third quarter. Carillon Tower Advisers Inc. now owns 480,953 shares of the construction company’s stock worth $131,829,000 after acquiring an additional 25,870 shares in the last quarter. M&G Investment Management Ltd. bought a new stake in Martin Marietta Materials in the fourth quarter worth $82,240,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Martin Marietta Materials by 1.8% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 247,769 shares of the construction company’s stock worth $69,286,000 after acquiring an additional 4,341 shares in the last quarter. 99.55% of the stock is currently owned by institutional investors.
MLM stock opened at $263.48 on Friday. Martin Marietta Materials, Inc. has a fifty-two week low of $186.95 and a fifty-two week high of $281.82. The business’s 50-day moving average is $270.42 and its two-hundred day moving average is $264.04. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.35 and a current ratio of 1.70. The company has a market cap of $16.42 billion, a price-to-earnings ratio of 26.97, a P/E/G ratio of 2.48 and a beta of 1.12.
Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, February 11th. The construction company reported $2.09 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.09). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Martin Marietta Materials had a net margin of 12.91% and a return on equity of 11.81%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.50 EPS. Equities analysts predict that Martin Marietta Materials, Inc. will post 11.48 earnings per share for the current year.
Several equities research analysts have commented on the company. Citigroup dropped their target price on Martin Marietta Materials from $336.00 to $310.00 and set a “buy” rating on the stock in a report on Wednesday. SunTrust Banks boosted their target price on Martin Marietta Materials from $285.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. DA Davidson boosted their target price on Martin Marietta Materials to $310.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. ValuEngine downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday, December 11th. Finally, Deutsche Bank assumed coverage on Martin Marietta Materials in a report on Friday, January 3rd. They issued a “buy” rating and a $198.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $272.57.
In related news, Director John J. Koraleski purchased 1,000 shares of Martin Marietta Materials stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $260.23 per share, for a total transaction of $260,230.00. Following the completion of the transaction, the director now directly owns 3,250 shares in the company, valued at approximately $845,747.50. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.73% of the company’s stock.
About Martin Marietta Materials
Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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.
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