Hengehold Capital Management LLC Buys 246 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Hengehold Capital Management LLC boosted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 48.4% during the fourth quarter, Holdings Channel reports. The fund owned 754 shares of the construction company’s stock after acquiring an additional 246 shares during the period. Hengehold Capital Management LLC’s holdings in Martin Marietta Materials were worth $390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MLM. JPMorgan Chase & Co. raised its holdings in Martin Marietta Materials by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after purchasing an additional 506,705 shares during the last quarter. FMR LLC raised its stake in shares of Martin Marietta Materials by 15.3% during the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock worth $1,353,936,000 after buying an additional 334,605 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after buying an additional 704,460 shares during the period. Franklin Resources Inc. boosted its stake in Martin Marietta Materials by 1.9% in the third quarter. Franklin Resources Inc. now owns 534,801 shares of the construction company’s stock valued at $295,397,000 after acquiring an additional 9,908 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in Martin Marietta Materials by 54.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after acquiring an additional 164,503 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $548.53 on Friday. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $33.53 billion, a P/E ratio of 17.09, a P/E/G ratio of 3.21 and a beta of 0.91. Martin Marietta Materials, Inc. has a 12 month low of $490.05 and a 12 month high of $633.23. The stock has a 50 day moving average of $552.29 and a 200-day moving average of $551.27.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data 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). The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.94 EPS. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 17.57 EPS for the current 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 paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. Martin Marietta Materials’s payout ratio is 9.85%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wolfe Research upgraded Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price target on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. UBS Group initiated coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They issued 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 research note on Wednesday, December 11th. Finally, Morgan Stanley decreased their price target on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $648.71.

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.