Rodgers & Associates LTD acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 327 shares of the construction company’s stock, valued at approximately $201,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLM. Norges Bank acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth approximately $308,705,000. Balyasny Asset Management L.P. lifted its holdings in Martin Marietta Materials by 4,244.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company’s stock valued at $138,289,000 after buying an additional 270,802 shares during the period. Corient Private Wealth LLC boosted its stake in Martin Marietta Materials by 306.8% in the fourth quarter. Corient Private Wealth LLC now owns 161,690 shares of the construction company’s stock valued at $80,668,000 after acquiring an additional 121,941 shares during the last quarter. Jennison Associates LLC grew its holdings in Martin Marietta Materials by 96.6% during the 4th quarter. Jennison Associates LLC now owns 157,904 shares of the construction company’s stock worth $78,780,000 after acquiring an additional 77,596 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Martin Marietta Materials by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock worth $3,577,268,000 after acquiring an additional 69,701 shares during the period. 95.04% of the stock is owned by institutional investors.
Martin Marietta Materials Stock Down 0.9 %
MLM traded down $4.98 during trading on Friday, reaching $559.08. The company had a trading volume of 894,307 shares, compared to its average volume of 493,224. The company has a market cap of $34.46 billion, a P/E ratio of 16.57, a PEG ratio of 2.49 and a beta of 0.91. Martin Marietta Materials, Inc. has a 12 month low of $389.90 and a 12 month high of $626.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. The business’s fifty day moving average price is $559.49 and its 200 day moving average price is $562.28.
Martin Marietta Materials Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were given a dividend of $0.74 per share. The ex-dividend date was Monday, June 3rd. This represents a $2.96 annualized dividend and a dividend yield of 0.53%. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.
Analysts Set New Price Targets
MLM has been the topic of a number of analyst reports. Jefferies Financial Group increased their price target on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus cut their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. StockNews.com lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Truist Financial increased their price target on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average target price of $617.33.
Get Our Latest Stock Report on Martin Marietta Materials
About Martin Marietta Materials
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.
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