Quantitative Investment Management LLC Makes New Investment in Martin Marietta Materials, Inc. $MLM

Quantitative Investment Management LLC bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,324 shares of the construction company’s stock, valued at approximately $763,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MLM. CoreCap Advisors LLC lifted its position in shares of Martin Marietta Materials by 370.0% during the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock worth $27,000 after acquiring an additional 37 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Martin Marietta Materials by 67.9% during the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after buying an additional 19 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of Martin Marietta Materials during the 4th quarter valued at $31,000. Reflection Asset Management purchased a new position in shares of Martin Marietta Materials in the fourth quarter worth about $35,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Martin Marietta Materials during the second quarter valued at approximately $37,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Down 2.7%

Shares of Martin Marietta Materials stock opened at $504.85 on Wednesday. The firm’s 50-day moving average is $558.97 and its two-hundred day moving average is $588.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73. The stock has a market cap of $30.33 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 2.24 and a beta of 1.10. Martin Marietta Materials, Inc. has a 1 year low of $502.56 and a 1 year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.76 by $0.24. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the company posted $5.43 EPS. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. As a group, research analysts expect that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.84 per share. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, September 1st. This represents a $3.36 annualized dividend and a yield of 0.7%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.16%.

Analyst Ratings Changes

Several research firms have weighed in on MLM. Oppenheimer initiated coverage on Martin Marietta Materials in a research report on Thursday, May 28th. They set a “market perform” rating on the stock. Citigroup decreased their price objective on shares of Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating for the company in a report on Monday, August 3rd. JPMorgan Chase & Co. lowered their target price on shares of Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. UBS Group reduced their price objective on Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Finally, Berenberg Bank set a $556.00 price target on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Ten research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $665.88.

Martin Marietta Materials Company 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.