ABC Arbitrage SA Purchases Shares of 2,935 Martin Marietta Materials, Inc. $MLM

ABC Arbitrage SA acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,935 shares of the construction company’s stock, valued at approximately $1,728,000.

Several other hedge funds also recently made changes to their positions in the company. Optima Capital LLC acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth about $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at about $27,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at about $31,000. Reflection Asset Management purchased a new position in Martin Marietta Materials during the 4th quarter worth approximately $35,000. Finally, Union Bancaire Privee UBP SA purchased a new position in Martin Marietta Materials during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley reduced their price objective on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research note on Monday, April 6th. Barclays lowered their target price on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Oppenheimer started coverage on shares of Martin Marietta Materials in a report on Thursday, May 28th. They issued a “market perform” rating on the stock. Truist Financial upped their price target on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Citigroup increased their price target on shares of Martin Marietta Materials from $731.00 to $737.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $682.41.

Martin Marietta Materials Stock Down 1.4%

Martin Marietta Materials stock opened at $569.59 on Tuesday. The stock has a 50 day moving average of $580.92 and a two-hundred day moving average of $614.74. Martin Marietta Materials, Inc. has a twelve month low of $525.38 and a twelve month high of $710.97. The stock has a market capitalization of $34.20 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 2.46 and a beta of 1.10. 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 released its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the company posted $1.90 earnings per share. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, research analysts expect that Martin Marietta Materials, Inc. will post 19.38 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 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.