Tidal Investments LLC Has $4.31 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Tidal Investments LLC grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 89.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,008 shares of the construction company’s stock after buying an additional 3,778 shares during the period. Tidal Investments LLC’s holdings in Martin Marietta Materials were worth $4,310,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC boosted its stake in shares of Martin Marietta Materials by 15.3% in the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after buying an additional 334,605 shares during the period. Principal Financial Group Inc. lifted its position in shares of 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 valued at $876,648,000 after acquiring an additional 704,460 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Martin Marietta Materials by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock worth $337,903,000 after purchasing an additional 12,759 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Martin Marietta Materials by 54.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after purchasing an additional 164,503 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Martin Marietta Materials by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after purchasing an additional 11,749 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

MLM has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Barclays boosted their price objective 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. BNP Paribas downgraded Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $655.77.

Martin Marietta Materials Stock Down 1.1 %

NYSE:MLM opened at $550.92 on Friday. Martin Marietta Materials, Inc. has a one year low of $479.67 and a one 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 company has a market cap of $33.67 billion, a PE ratio of 17.17, a P/E/G ratio of 3.80 and a beta of 0.89. The firm’s 50 day simple moving average is $578.63 and its 200 day simple moving average is $555.97.

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

Martin Marietta Materials Announces Dividend

The company 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. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio 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.