1,513 Shares of Martin Marietta Materials, Inc. $MLM Bought by CenterBook Partners LP

CenterBook Partners LP purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the third quarter, Holdings Channel.com reports. The fund purchased 1,513 shares of the construction company’s stock, valued at approximately $726,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. AMG National Trust Bank boosted its stake in shares of Martin Marietta Materials by 3.6% in the first quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock valued at $291,000 after purchasing an additional 17 shares during the period. AlTi Global Inc. increased its stake in Martin Marietta Materials by 1.2% during the 1st quarter. AlTi Global Inc. now owns 1,496 shares of the construction company’s stock worth $881,000 after buying an additional 18 shares during the period. Meeder Asset Management Inc. increased its stake in Martin Marietta Materials by 67.9% during the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after buying an additional 19 shares during the period. Western Wealth Management LLC increased its stake in Martin Marietta Materials by 5.1% during the 1st quarter. Western Wealth Management LLC now owns 559 shares of the construction company’s stock worth $329,000 after buying an additional 27 shares during the period. Finally, TD Waterhouse Canada Inc. increased its stake in Martin Marietta Materials by 0.3% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 11,015 shares of the construction company’s stock worth $5,286,000 after buying an additional 34 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $528.45 on Wednesday. The stock has a 50-day simple moving average of $503.19 and a 200-day simple moving average of $572.25. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.91 and a current ratio of 1.63. The stock has a market capitalization of $37.58 billion, a PE ratio of 32.67, a PEG ratio of 2.92 and a beta of 1.02. Martin Marietta Materials, Inc. has a 1 year low of $464.92 and a 1 year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, November 4th. The construction company reported $5.47 earnings per share for the quarter, missing analysts’ consensus estimates of $5.99 by ($0.52). Martin Marietta Materials had a return on equity of 7.96% and a net margin of 31.88%. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the company posted $6.85 earnings per share. The firm’s quarterly revenue was up 28.3% on a year-over-year basis. On average, analysts predict that Martin Marietta Materials, Inc. will post 15.36 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were paid a $0.84 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Tuesday, September 1st. Martin Marietta Materials’s payout ratio is presently 8.89%.

Analyst Ratings Changes

A number of research firms have issued reports on MLM. Jefferies Financial Group reduced their target price on shares of Martin Marietta Materials from $720.00 to $670.00 and set a “buy” rating on the stock in a report on Wednesday, September 23rd. Wall Street Zen downgraded shares of Martin Marietta Materials from a “sell” rating to a “strong sell” rating in a research note on Saturday. Citigroup boosted their price target on shares of Martin Marietta Materials from $610.00 to $641.00 and gave the stock a “buy” rating in a research note on Friday, November 6th. BNP Paribas Exane cut their price objective on Martin Marietta Materials from $590.00 to $565.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 16th. Finally, Stifel Nicolaus reduced their price objective on Martin Marietta Materials from $634.00 to $629.00 and set a “buy” rating on the stock in a research note on Wednesday, October 28th. Fifteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $638.35.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc. is a U.S.-based supplier of building materials used in construction and infrastructure projects. Its products include crushed stone, sand and gravel, cement, ready-mixed concrete and asphalt. The company also produces specialty products through its magnesia-based business, including lime, chemicals and products used in industrial and environmental applications. Its construction materials operations serve markets across the United States. Martin Marietta traces its roots to 1939 and has grown through acquisitions and expansion of its materials operations.