Martin Marietta Materials, Inc. $MLM Position Increased by OFI Invest Asset Management

OFI Invest Asset Management raised its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 34.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 74,709 shares of the construction company’s stock after buying an additional 18,952 shares during the period. OFI Invest Asset Management’s holdings in Martin Marietta Materials were worth $46,518,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MLM. Integrated Wealth Concepts LLC lifted its position in shares of Martin Marietta Materials by 6.6% in the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after purchasing an additional 49 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Martin Marietta Materials by 11.4% in the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock worth $673,000 after purchasing an additional 144 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Martin Marietta Materials by 11.1% in the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock worth $280,000 after purchasing an additional 51 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Martin Marietta Materials by 205.9% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock worth $143,000 after purchasing an additional 175 shares in the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of Martin Marietta Materials by 10.6% in the second quarter. Brown Advisory Inc. now owns 7,294 shares of the construction company’s stock worth $4,004,000 after purchasing an additional 702 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

Shares of MLM opened at $624.99 on Thursday. The firm has a market cap of $37.69 billion, a PE ratio of 33.24, a PEG ratio of 2.34 and a beta of 1.19. The firm’s 50 day moving average price is $631.85 and its 200 day moving average price is $628.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.36 and a current ratio of 3.57. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.19). The business 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%. Martin Marietta Materials’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $4.79 EPS. As a group, research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is 17.66%.

Analyst Upgrades and Downgrades

MLM has been the subject of a number of research analyst reports. Stephens reduced their price target on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Morgan Stanley reduced their price target on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research report on Monday. B. Riley Financial raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price target for the company in a research report on Thursday, April 2nd. Barclays reduced their price target on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Finally, Zacks Research lowered shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Friday, February 13th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Martin Marietta Materials presently has an average rating of “Hold” and an average target price of $692.31.

About Martin Marietta Materials

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.