Martin Marietta Materials, Inc. (NYSE:MLM) Stock Holdings Increased by Allianz Asset Management GmbH

Allianz Asset Management GmbH raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 26.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 60,993 shares of the construction company’s stock after purchasing an additional 12,599 shares during the quarter. Allianz Asset Management GmbH’s holdings in Martin Marietta Materials were worth $31,503,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MLM. Private Advisor Group LLC lifted its position in shares of Martin Marietta Materials by 20.6% during the 3rd quarter. Private Advisor Group LLC now owns 1,458 shares of the construction company’s stock valued at $785,000 after acquiring an additional 249 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Martin Marietta Materials by 46,996.7% during the third quarter. International Assets Investment Management LLC now owns 56,516 shares of the construction company’s stock worth $30,420,000 after purchasing an additional 56,396 shares during the period. Mediolanum International Funds Ltd raised its position in shares of Martin Marietta Materials by 4.9% during the third quarter. Mediolanum International Funds Ltd now owns 6,448 shares of the construction company’s stock worth $3,470,000 after purchasing an additional 299 shares during the period. Allworth Financial LP lifted its holdings in shares of Martin Marietta Materials by 89.3% during the third quarter. Allworth Financial LP now owns 799 shares of the construction company’s stock valued at $430,000 after purchasing an additional 377 shares during the last quarter. Finally, Parcion Private Wealth LLC acquired a new position in shares of Martin Marietta Materials in the 3rd quarter valued at $302,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Stephens cut their price objective on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Loop Capital cut their price target on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective on the stock in a research report on Wednesday, January 8th. Finally, Truist Financial reduced their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $639.43.

Martin Marietta Materials Price Performance

MLM opened at $489.94 on Monday. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 1 year low of $482.72 and a 1 year high of $633.23. The stock has a fifty day moving average price of $530.12 and a 200 day moving average price of $547.14. The stock has a market cap of $29.95 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 4.45 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.64%. Martin Marietta Materials’s dividend payout ratio is currently 9.77%.

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.