Geode Capital Management LLC Increases Position in Martin Marietta Materials, Inc. $MLM

Geode Capital Management LLC increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.7% during the 4th quarter, Holdings Channel reports. The firm owned 1,553,364 shares of the construction company’s stock after acquiring an additional 10,743 shares during the period. Geode Capital Management LLC’s holdings in Martin Marietta Materials were worth $963,406,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bank of America Corp DE increased its stake in Martin Marietta Materials by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after buying an additional 565,856 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Martin Marietta Materials by 9.6% in the third quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock valued at $1,389,428,000 after acquiring an additional 192,637 shares in the last quarter. Millennium Management LLC lifted its position in shares of Martin Marietta Materials by 1,570.3% in the third quarter. Millennium Management LLC now owns 108,167 shares of the construction company’s stock valued at $68,175,000 after acquiring an additional 115,524 shares in the last quarter. Freestone Grove Partners LP boosted its stake in shares of Martin Marietta Materials by 748.5% in the third quarter. Freestone Grove Partners LP now owns 124,963 shares of the construction company’s stock worth $78,762,000 after acquiring an additional 110,236 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Martin Marietta Materials by 1.3% in the third quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock worth $4,691,139,000 after acquiring an additional 93,595 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

MLM has been the topic of several recent analyst reports. Citigroup decreased their target price on Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Oppenheimer began coverage on shares of Martin Marietta Materials in a report on Thursday. They set a “market perform” rating for the company. Royal Bank Of Canada reduced their price objective on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating on the stock in a research report on Monday, May 4th. Weiss Ratings raised shares of Martin Marietta Materials from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Finally, Jefferies Financial Group restated a “buy” rating and set a $785.00 target price on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $689.81.

Martin Marietta Materials Trading Up 1.3%

NYSE MLM opened at $582.80 on Friday. The stock has a market cap of $35.00 billion, a PE ratio of 13.89, a PEG ratio of 2.08 and a beta of 1.13. Martin Marietta Materials, Inc. has a 12 month low of $525.38 and a 12 month high of $710.97. The company’s 50-day moving average price is $590.95 and its 200-day moving average price is $621.11. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the business posted $1.90 EPS. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.32 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Martin Marietta Materials’s payout ratio is currently 7.91%.

Martin Marietta Materials Profile

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.