Martin Marietta Materials, Inc. (NYSE:MLM) Stake Increased by ING Groep NV

ING Groep NV raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 162.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,806 shares of the construction company’s stock after acquiring an additional 4,832 shares during the quarter. ING Groep NV’s holdings in Martin Marietta Materials were worth $4,032,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its position in shares of Martin Marietta Materials by 2.5% during the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock worth $421,000 after purchasing an additional 19 shares during the last quarter. iA Global Asset Management Inc. raised its stake in Martin Marietta Materials by 3.6% during the third quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock valued at $307,000 after buying an additional 20 shares in the last quarter. Brooklyn Investment Group lifted its holdings in Martin Marietta Materials by 4.7% during the 4th quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock worth $231,000 after buying an additional 20 shares during the last quarter. Financial Counselors Inc. grew its position in shares of Martin Marietta Materials by 1.9% in the 3rd quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company’s stock worth $604,000 after acquiring an additional 21 shares in the last quarter. Finally, OLD National Bancorp IN increased its holdings in shares of Martin Marietta Materials by 4.5% in the 4th quarter. OLD National Bancorp IN now owns 483 shares of the construction company’s stock valued at $249,000 after acquiring an additional 21 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on MLM. UBS Group initiated coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective for the company. Truist Financial lowered their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price on the stock in a report on Wednesday, December 11th. StockNews.com lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Raymond James cut their price target on Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $639.43.

Martin Marietta Materials Stock Down 3.2 %

Martin Marietta Materials stock opened at $489.94 on Friday. Martin Marietta Materials, Inc. has a 52 week low of $482.72 and a 52 week high of $633.23. The stock has a market cap of $29.95 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 4.45 and a beta of 0.91. The company’s 50-day moving average price is $530.12 and its two-hundred day moving average price is $547.08. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. On average, analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.64%. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.77%.

About Martin Marietta Materials

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.