Quarry LP Makes New $87,000 Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

Quarry LP bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 161 shares of the construction company’s stock, valued at approximately $87,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MLM. Czech National Bank raised its holdings in Martin Marietta Materials by 8.0% during the 2nd quarter. Czech National Bank now owns 11,747 shares of the construction company’s stock valued at $6,365,000 after acquiring an additional 872 shares during the period. Dynamic Advisor Solutions LLC raised its stake in shares of Martin Marietta Materials by 17.4% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 431 shares of the construction company’s stock valued at $234,000 after purchasing an additional 64 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Martin Marietta Materials by 27.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,278 shares of the construction company’s stock worth $3,943,000 after purchasing an additional 1,549 shares in the last quarter. Buckingham Capital Management Inc. bought a new position in Martin Marietta Materials in the 2nd quarter worth about $200,000. Finally, Wedmont Private Capital grew its holdings in Martin Marietta Materials by 25.5% during the 2nd quarter. Wedmont Private Capital now owns 596 shares of the construction company’s stock valued at $330,000 after buying an additional 121 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on MLM. Loop Capital raised their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $515.00 to $640.00 in a research note on Wednesday, November 27th. Barclays boosted their price target on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. UBS Group assumed coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 price objective for the company. Finally, BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and an average target price of $644.46.

Martin Marietta Materials Stock Down 0.2 %

Shares of MLM opened at $581.18 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $458.58 and a 1 year high of $633.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The stock has a 50 day simple moving average of $575.82 and a two-hundred day simple moving average of $556.15. The firm has a market cap of $35.52 billion, a P/E ratio of 18.11, a P/E/G ratio of 3.95 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Martin Marietta Materials’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period last year, the company posted $6.94 EPS. On average, analysts forecast that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 0.54%. Martin Marietta Materials’s payout ratio is 9.85%.

Martin Marietta Materials Company Profile

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.