6,721 Shares in Martin Marietta Materials, Inc. (NYSE:MLM) Acquired by Avanza Fonder AB

Avanza Fonder AB acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 6,721 shares of the construction company’s stock, valued at approximately $3,471,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Procyon Advisors LLC lifted its holdings in Martin Marietta Materials by 15.6% during the fourth quarter. Procyon Advisors LLC now owns 3,335 shares of the construction company’s stock valued at $1,722,000 after purchasing an additional 450 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in Martin Marietta Materials by 13.2% during the fourth quarter. Ritholtz Wealth Management now owns 866 shares of the construction company’s stock valued at $447,000 after purchasing an additional 101 shares in the last quarter. RMR Wealth Builders lifted its holdings in Martin Marietta Materials by 431.3% during the fourth quarter. RMR Wealth Builders now owns 2,391 shares of the construction company’s stock valued at $1,235,000 after purchasing an additional 1,941 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Martin Marietta Materials by 36.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,002 shares of the construction company’s stock valued at $517,000 after purchasing an additional 269 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in Martin Marietta Materials by 14.8% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 854 shares of the construction company’s stock valued at $441,000 after purchasing an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 2.3 %

Shares of MLM opened at $543.33 on Friday. The company’s fifty day moving average is $555.95 and its 200 day moving average is $550.86. Martin Marietta Materials, Inc. has a fifty-two week low of $490.05 and a fifty-two week high of $633.23. The stock has a market capitalization of $33.21 billion, a PE ratio of 16.93, a P/E/G ratio of 2.97 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the firm posted $6.94 EPS. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 17.6 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.85%.

Wall Street Analyst Weigh In

MLM has been the topic of several analyst reports. Morgan Stanley lowered their price target on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Raymond James lowered their price target on shares of Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday. UBS Group began coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 price target on the stock. Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price on the stock in a report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $648.71.

Martin Marietta Materials Company 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.