Mader & Shannon Wealth Management Inc. Buys 4,179 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Mader & Shannon Wealth Management Inc. lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 57.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,500 shares of the construction company’s stock after acquiring an additional 4,179 shares during the period. Martin Marietta Materials comprises 3.6% of Mader & Shannon Wealth Management Inc.’s investment portfolio, making the stock its 12th largest position. Mader & Shannon Wealth Management Inc.’s holdings in Martin Marietta Materials were worth $6,190,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MLM. Principal Financial Group Inc. boosted its position in Martin Marietta Materials by 76.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after buying an additional 704,460 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Martin Marietta Materials by 114.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after buying an additional 523,038 shares during the period. Diamond Hill Capital Management Inc. boosted its position in Martin Marietta Materials by 54.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after buying an additional 164,503 shares during the period. The Manufacturers Life Insurance Company boosted its position in Martin Marietta Materials by 247.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock worth $80,634,000 after buying an additional 106,002 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Martin Marietta Materials by 682.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 75,045 shares of the construction company’s stock worth $40,393,000 after buying an additional 65,454 shares during the period. 95.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

MLM has been the topic of several recent research reports. UBS Group began coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $730.00 target price on the stock. Jefferies Financial Group dropped their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Barclays boosted their price target on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Morgan Stanley boosted their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Finally, Loop Capital boosted their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average target price of $634.85.

Martin Marietta Materials Stock Up 1.2 %

Martin Marietta Materials stock opened at $597.81 on Friday. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a 12-month low of $456.83 and a 12-month high of $633.23. The firm’s fifty day moving average is $565.21 and its 200 day moving average is $556.75. The company has a market capitalization of $36.54 billion, a PE ratio of 18.63, a PEG ratio of 3.95 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last released its earnings results 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). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm earned $6.94 EPS. The firm’s revenue was down 5.3% on a year-over-year basis. As a group, sell-side analysts predict that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.53%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 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.