E Fund Management Co. Ltd. purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 109 shares of the construction company’s stock, valued at approximately $37,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC purchased a new stake in shares of Martin Marietta Materials during the first quarter worth approximately $28,000. Charter Oak Capital Management LLC acquired a new position in Martin Marietta Materials during the fourth quarter worth $27,000. Concord Wealth Partners acquired a new position in Martin Marietta Materials during the fourth quarter worth $28,000. Meeder Asset Management Inc. boosted its stake in Martin Marietta Materials by 33.7% during the first quarter. Meeder Asset Management Inc. now owns 139 shares of the construction company’s stock worth $47,000 after buying an additional 35 shares during the last quarter. Finally, Merrion Investment Management Co LLC acquired a new position in Martin Marietta Materials during the fourth quarter worth $57,000. Hedge funds and other institutional investors own 91.93% of the company’s stock.
MLM opened at $350.05 on Friday. The business’s 50-day moving average price is $358.59. Martin Marietta Materials, Inc. has a 12-month low of $188.24 and a 12-month high of $383.71. The company has a current ratio of 3.73, a quick ratio of 2.20 and a debt-to-equity ratio of 0.44. The firm has a market cap of $21.83 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 2.26 and a beta of 0.65.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 1st will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Friday, May 28th. Martin Marietta Materials’s payout ratio is 19.76%.
A number of research firms have weighed in on MLM. Morgan Stanley boosted their price objective on Martin Marietta Materials from $372.00 to $408.00 and gave the stock an “overweight” rating in a research note on Monday, May 10th. Barclays boosted their price objective on Martin Marietta Materials from $275.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 28th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. boosted their price objective on Martin Marietta Materials from $335.00 to $385.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 26th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $298.63.
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 used in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.
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