Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in Martin Marietta Materials, Inc. $MLM

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,300 shares of the construction company’s stock after acquiring an additional 1,302 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Martin Marietta Materials were worth $13,885,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MLM. Integrated Wealth Concepts LLC raised its position in Martin Marietta Materials by 6.6% during the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock valued at $379,000 after acquiring an additional 49 shares in the last quarter. Empowered Funds LLC increased its position in shares of Martin Marietta Materials by 11.4% in the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after buying an additional 144 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Martin Marietta Materials by 11.1% in the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock valued at $280,000 after buying an additional 51 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Martin Marietta Materials by 205.9% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock valued at $143,000 after buying an additional 175 shares in the last quarter. Finally, Cresset Asset Management LLC increased its position in shares of Martin Marietta Materials by 22.6% in the second quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock valued at $427,000 after buying an additional 143 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM opened at $611.26 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. The business’s 50 day moving average price is $621.96 and its 200-day moving average price is $628.83. The firm has a market capitalization of $36.83 billion, a PE ratio of 32.51, a P/E/G ratio of 2.22 and a beta of 1.19. Martin Marietta Materials, Inc. has a 1 year low of $490.31 and a 1 year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The business’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.79 earnings per share. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.85 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd were paid a $0.83 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials’s payout ratio is currently 17.66%.

Analyst Upgrades and Downgrades

MLM has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price objective on Martin Marietta Materials from $612.00 to $608.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 15th. Barclays cut their price objective on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Citigroup boosted their price objective on Martin Marietta Materials from $780.00 to $804.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Jefferies Financial Group restated a “buy” rating and issued a $785.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Finally, Loop Capital cut Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price objective for the company. in a research report on Wednesday, January 28th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target of $692.06.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.