Assetmark Inc. Has $13.80 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Assetmark Inc. lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 27.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,633 shares of the construction company's stock after acquiring an additional 5,455 shares during the quarter. Assetmark Inc.'s holdings in Martin Marietta Materials were worth $13,797,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. lifted its holdings in shares of Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company's stock worth $25,000 after purchasing an additional 37 shares during the last quarter. Asset Dedication LLC lifted its holdings in shares of Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company's stock worth $30,000 after purchasing an additional 52 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company's stock worth $34,000 after purchasing an additional 41 shares during the last quarter. Pathway Financial Advisers LLC bought a new stake in shares of Martin Marietta Materials in the 1st quarter worth approximately $41,000. Finally, Rothschild Investment LLC bought a new stake in shares of Martin Marietta Materials in the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds own 95.04% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley raised their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an "overweight" rating in a report on Monday, August 26th. Loop Capital lifted their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Jefferies Financial Group cut their target price on Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating on the stock in a research note on Wednesday, October 9th. StockNews.com raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Friday. Finally, BNP Paribas raised Martin Marietta Materials to a "strong-buy" rating in a research note on Thursday, September 19th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $634.85.

Martin Marietta Materials Stock Down 0.6 %

Shares of MLM stock traded down $3.53 on Monday, reaching $616.05. 373,172 shares of the company's stock traded hands, compared to its average volume of 447,938. Martin Marietta Materials, Inc. has a 12-month low of $451.37 and a 12-month high of $633.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The company has a market capitalization of $37.65 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 4.14 and a beta of 0.90. The business's 50 day moving average price is $549.06 and its two-hundred day moving average price is $556.31.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts' consensus estimates of $6.41 by ($0.50). The business had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business's quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.94 EPS. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a dividend of $0.79 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.51%. Martin Marietta Materials's payout ratio is 9.85%.

Martin Marietta Materials Profile

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.