Martin Marietta Materials, Inc. $MLM Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 29.1% in the 1st quarter, HoldingsChannel reports. The firm owned 23,501 shares of the construction company’s stock after purchasing an additional 5,304 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Martin Marietta Materials were worth $13,835,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of MLM. Optima Capital LLC purchased a new position in Martin Marietta Materials during the 4th quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Martin Marietta Materials in the third quarter worth $27,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Martin Marietta Materials during the fourth quarter worth $31,000. Union Bancaire Privee UBP SA acquired a new position in Martin Marietta Materials during the fourth quarter valued at $36,000. Finally, Reflection Asset Management purchased a new stake in Martin Marietta Materials in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $616.07 on Friday. The company has a market capitalization of $36.99 billion, a P/E ratio of 14.68, a P/E/G ratio of 2.61 and a beta of 1.10. The business’s 50 day moving average is $587.99 and its two-hundred day moving average is $618.20. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a 12-month low of $525.38 and a 12-month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.78 by $0.15. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.Martin Marietta Materials’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period last year, the company earned $1.90 earnings per share. Analysts expect that Martin Marietta Materials, Inc. will post 19.41 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be paid a $0.83 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 7.91%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MLM. Morgan Stanley reduced their price objective on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research note on Monday, April 6th. Barclays reduced their price target 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. Wells Fargo & Company upped their price objective on Martin Marietta Materials from $608.00 to $614.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Oppenheimer began coverage on shares of Martin Marietta Materials in a report on Thursday, May 28th. They set a “market perform” rating for the company. Finally, Raymond James Financial set a $690.00 price target on shares of Martin Marietta Materials in a report on Monday, April 27th. Eleven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $681.94.

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.