Balyasny Asset Management L.P. Has $109.53 Million Stock Holdings in Martin Marietta Materials, Inc. $MLM

Balyasny Asset Management L.P. lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 263.3% during the 4th quarter, Holdings Channel reports. The firm owned 175,911 shares of the construction company’s stock after purchasing an additional 127,492 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Martin Marietta Materials were worth $109,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Optima Capital LLC acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth about $25,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Martin Marietta Materials during the 3rd quarter worth approximately $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials during the 3rd quarter worth approximately $32,000. Union Bancaire Privee UBP SA acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $36,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Martin Marietta Materials during the 2nd quarter worth approximately $37,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $590.40 on Thursday. The company has a 50 day moving average of $589.25 and a 200-day moving average of $618.41. Martin Marietta Materials, Inc. has a 1-year low of $525.38 and a 1-year high of $710.97. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The company has a market cap of $35.45 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 2.56 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm posted $1.90 EPS. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.41 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Martin Marietta Materials’s dividend payout ratio is 7.91%.

Analyst Ratings Changes

A number of research firms recently weighed in on MLM. Royal Bank Of Canada decreased their target price on Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating on the stock in a report on Monday, May 4th. Morgan Stanley decreased their price target on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. Weiss Ratings lowered shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 8th. Citigroup decreased their price target on shares of Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Finally, UBS Group set a $739.00 price target on shares of Martin Marietta Materials in a research note on Sunday, May 10th. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $681.94.

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.