2,000 Shares in Martin Marietta Materials, Inc. $MLM Purchased by Wolverine Asset Management LLC

Wolverine Asset Management LLC acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 2,000 shares of the construction company’s stock, valued at approximately $1,261,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in shares of Martin Marietta Materials by 31.9% during the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock valued at $1,284,938,000 after buying an additional 565,856 shares during the last quarter. Norges Bank acquired a new stake in Martin Marietta Materials in the 2nd quarter valued at approximately $233,811,000. State Street Corp raised its stake in Martin Marietta Materials by 2.0% during the 2nd quarter. State Street Corp now owns 2,825,325 shares of the construction company’s stock valued at $1,550,990,000 after acquiring an additional 56,353 shares in the last quarter. Shellback Capital LP acquired a new position in Martin Marietta Materials during the 2nd quarter worth $26,089,000. Finally, Man Group plc bought a new position in shares of Martin Marietta Materials in the second quarter worth $25,458,000. Institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MLM shares. JPMorgan Chase & Co. lifted their price objective on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Barclays raised their target price on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Stifel Nicolaus upped their price target on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Raymond James Financial raised their price objective on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Finally, Jefferies Financial Group boosted their target price on Martin Marietta Materials from $725.00 to $730.00 and gave the stock a “buy” rating in a report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $670.63.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $652.35 on Friday. The company has a 50-day moving average of $626.04 and a 200-day moving average of $612.42. The firm has a market cap of $39.34 billion, a price-to-earnings ratio of 34.39 and a beta of 1.15. The company has a current ratio of 2.97, a quick ratio of 2.07 and a debt-to-equity ratio of 0.54. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $668.83.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing the consensus estimate of $6.62 by ($0.65). The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.06 billion. Martin Marietta Materials had a net margin of 17.34% and a return on equity of 11.68%. Analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 17.50%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.