ABC Arbitrage SA Purchases New Shares in Martin Marietta Materials, Inc. (NYSE:MLM)

ABC Arbitrage SA acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,406 shares of the construction company's stock, valued at approximately $726,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MLM. First Personal Financial Services bought a new stake in shares of Martin Marietta Materials in the 3rd quarter worth $33,000. Retirement Wealth Solutions LLC purchased a new position in Martin Marietta Materials during the fourth quarter valued at approximately $41,000. R Squared Ltd acquired a new position in Martin Marietta Materials in the 4th quarter worth about $41,000. Larson Financial Group LLC bought a new position in shares of Martin Marietta Materials during the 3rd quarter valued at $49,000. Finally, Fortitude Family Office LLC boosted its position in Martin Marietta Materials by 60.3% during the fourth quarter. Fortitude Family Office LLC now owns 101 shares of the construction company's stock worth $52,000 after purchasing an additional 38 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

MLM stock traded down $12.34 during trading on Wednesday, reaching $521.65. The company's stock had a trading volume of 403,938 shares, compared to its average volume of 433,895. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $31.88 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 4.61 and a beta of 0.91. The company's fifty day moving average is $533.74 and its 200-day moving average is $548.21. Martin Marietta Materials, Inc. has a 1 year low of $482.72 and a 1 year high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping analysts' consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. On average, research analysts expect that Martin Marietta Materials, Inc. will post 19.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on MLM. Hsbc Global Res raised shares of Martin Marietta Materials from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Barclays decreased their price objective on shares of Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Wolfe Research upgraded Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 price objective for the company in a report on Wednesday, January 8th. BNP Paribas cut Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Finally, Loop Capital cut their price objective on Martin Marietta Materials from $680.00 to $645.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $639.43.

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.