Fmr LLC Has $1.35 Billion Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Fmr LLC raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 15.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,515,441 shares of the construction company’s stock after buying an additional 334,605 shares during the period. Fmr LLC’s holdings in Martin Marietta Materials were worth $1,353,936,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. increased its stake in Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after buying an additional 37 shares during the last quarter. Asset Dedication LLC raised its holdings in shares of Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the period. First Personal Financial Services bought a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at about $33,000. Fortitude Family Office LLC raised its holdings in shares of Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after purchasing an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Martin Marietta Materials in the 1st quarter valued at about $41,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MLM has been the topic of a number of research analyst reports. Citigroup dropped their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Stephens dropped their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. UBS Group initiated coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 target price on the stock. Finally, Truist Financial dropped their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average target price of $634.85.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM opened at $596.93 on Wednesday. The company’s 50 day moving average price is $567.95 and its two-hundred day moving average price is $556.08. Martin Marietta Materials, Inc. has a 12-month low of $456.83 and a 12-month high of $633.23. The firm has a market cap of $36.48 billion, a PE ratio of 18.60, a PEG ratio of 4.10 and a beta of 0.90. 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 (NYSE:MLM) last announced 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 return on equity of 12.53% and a net margin of 30.47%. The business 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 company earned $6.94 EPS. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. Equities research analysts predict that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

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