Chilton Investment Co. Inc. Purchases 18,154 Shares of Martin Marietta Materials, Inc. $MLM

Chilton Investment Co. Inc. boosted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3,645.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,652 shares of the construction company’s stock after acquiring an additional 18,154 shares during the period. Chilton Investment Co. Inc.’s holdings in Martin Marietta Materials were worth $11,756,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MLM. Bank of America Corp DE increased its stake in shares of Martin Marietta Materials by 1.1% in the third quarter. Bank of America Corp DE now owns 2,365,832 shares of the construction company’s stock worth $1,491,136,000 after purchasing an additional 25,155 shares during the period. Anchor Investment Management LLC boosted its stake in Martin Marietta Materials by 6.1% during the 3rd quarter. Anchor Investment Management LLC now owns 435 shares of the construction company’s stock valued at $274,000 after purchasing an additional 25 shares during the period. Aquatic Capital Management LLC grew its holdings in Martin Marietta Materials by 474.5% in the 3rd quarter. Aquatic Capital Management LLC now owns 16,143 shares of the construction company’s stock valued at $10,175,000 after buying an additional 13,333 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Martin Marietta Materials by 10.8% in the 3rd quarter. Alliancebernstein L.P. now owns 74,715 shares of the construction company’s stock valued at $47,091,000 after buying an additional 7,277 shares during the last quarter. Finally, Creative Planning increased its position in Martin Marietta Materials by 10.2% in the 3rd quarter. Creative Planning now owns 22,887 shares of the construction company’s stock worth $14,425,000 after buying an additional 2,121 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Price Performance

Shares of MLM stock opened at $584.08 on Friday. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $710.97. The company has a market capitalization of $35.23 billion, a P/E ratio of 31.07, a P/E/G ratio of 2.30 and a beta of 1.13. The stock has a 50 day moving average of $654.23 and a two-hundred day moving average of $632.62. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.79 earnings per share. As a group, equities analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, March 2nd. Martin Marietta Materials’s payout ratio is 17.66%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Zacks Research lowered Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Friday, February 13th. Citigroup raised their price objective on shares of Martin Marietta Materials from $780.00 to $804.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Weiss Ratings cut shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 23rd. B. Riley Financial initiated coverage on shares of Martin Marietta Materials in a report on Thursday, January 15th. They issued a “neutral” rating and a $700.00 price target for the company. Finally, Loop Capital lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price target on the stock. in a research report on Wednesday, January 28th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $696.88.

Martin Marietta Materials Company 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.