Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 170.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,354 shares of the construction company’s stock after acquiring an additional 2,112 shares during the quarter. Edgestream Partners L.P.’s holdings in Martin Marietta Materials were worth $1,805,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Newbridge Financial Services Group Inc. lifted its holdings in Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after purchasing an additional 37 shares during the period. Asset Dedication LLC lifted its stake 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 worth $30,000 after acquiring an additional 52 shares during the period. First Personal Financial Services bought a new position in shares of Martin Marietta Materials in the third quarter valued at approximately $33,000. Fortitude Family Office LLC increased its stake in shares of Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after acquiring an additional 41 shares during the period. Finally, Rothschild Investment LLC acquired a new stake in Martin Marietta Materials in the second quarter worth approximately $43,000. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MLM. Citigroup dropped their price objective on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. 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. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $515.00 to $640.00 in a research report on Wednesday, November 27th. BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Morgan Stanley lifted 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. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $644.46.

Martin Marietta Materials Stock Down 0.7 %

NYSE:MLM opened at $588.86 on Wednesday. The business’s fifty day moving average price is $573.20 and its 200 day moving average price is $555.97. The firm has a market capitalization of $35.99 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 4.02 and a beta of 0.89. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a 1-year low of $456.83 and a 1-year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly 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 company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the company earned $6.94 earnings per share. Martin Marietta Materials’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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

Martin Marietta Materials 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.