Clarendon Private LLC Makes New $383,000 Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

Clarendon Private LLC bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 742 shares of the construction company's stock, valued at approximately $383,000.

A number of other hedge funds have also recently made changes to their positions in the company. Inspire Investing LLC boosted its holdings in Martin Marietta Materials by 0.9% during the third quarter. Inspire Investing LLC now owns 2,126 shares of the construction company's stock worth $1,144,000 after purchasing an additional 19 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Martin Marietta Materials by 2.5% in the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company's stock valued at $421,000 after acquiring an additional 19 shares in the last quarter. iA Global Asset Management Inc. increased its position in shares of Martin Marietta Materials by 3.6% during the third quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company's stock valued at $307,000 after acquiring an additional 20 shares during the last quarter. Brooklyn Investment Group lifted its holdings in Martin Marietta Materials by 4.7% during the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company's stock worth $231,000 after acquiring an additional 20 shares during the period. Finally, Financial Counselors Inc. increased its position in shares of Martin Marietta Materials by 1.9% during the 3rd quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company's stock valued at $604,000 after purchasing an additional 21 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on MLM shares. HSBC raised shares of Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 price objective on the stock in a research report on Wednesday, December 11th. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $515.00 to $640.00 in a research note on Wednesday, November 27th. UBS Group began coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They set a "buy" rating and a $730.00 price target for the company. Wolfe Research upgraded Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 price objective on the stock in a research note on Wednesday, January 8th. Finally, Loop Capital upped their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a "buy" rating in a report on Thursday, October 31st. 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 data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $648.71.

Martin Marietta Materials Price Performance

NYSE:MLM traded down $0.37 during trading hours on Friday, hitting $548.40. 293,651 shares of the company's stock traded hands, compared to its average volume of 305,094. Martin Marietta Materials, Inc. has a 52 week low of $490.05 and a 52 week high of $633.23. The business's fifty day simple moving average is $550.81 and its two-hundred day simple moving average is $551.56. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The firm has a market cap of $33.52 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 (NYSE:MLM - Get Free Report) last announced its 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). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the prior year, the business earned $6.94 earnings per share. The company's revenue for the quarter was down 5.3% compared to the same quarter last year. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 17.57 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a $0.79 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.58%. Martin Marietta Materials's payout ratio is 9.85%.

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.