Fifth Third Bancorp Buys 1,382 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Fifth Third Bancorp boosted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 24.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,005 shares of the construction company's stock after purchasing an additional 1,382 shares during the period. Fifth Third Bancorp's holdings in Martin Marietta Materials were worth $3,618,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LexAurum Advisors LLC boosted its position in Martin Marietta Materials by 3.8% during the fourth quarter. LexAurum Advisors LLC now owns 633 shares of the construction company's stock valued at $327,000 after purchasing an additional 23 shares during the last quarter. Hengehold Capital Management LLC grew its stake in shares of Martin Marietta Materials by 48.4% in the fourth quarter. Hengehold Capital Management LLC now owns 754 shares of the construction company's stock valued at $390,000 after buying an additional 246 shares in the last quarter. Inspire Investing LLC increased its holdings in Martin Marietta Materials by 5.4% during the fourth quarter. Inspire Investing LLC now owns 2,241 shares of the construction company's stock worth $1,157,000 after buying an additional 115 shares during the last quarter. Bartlett & CO. Wealth Management LLC raised its position in Martin Marietta Materials by 38.5% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 3,208 shares of the construction company's stock worth $1,657,000 after acquiring an additional 891 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Martin Marietta Materials by 2.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,691 shares of the construction company's stock valued at $4,489,000 after acquiring an additional 182 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Shares of MLM traded down $3.72 during midday trading on Tuesday, reaching $542.33. The stock had a trading volume of 343,284 shares, compared to its average volume of 358,270. The company has a market capitalization of $33.15 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91. The company's 50-day moving average is $549.29 and its 200 day moving average is $551.41. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a 12-month low of $490.05 and a 12-month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business posted $6.94 earnings per share. The firm's quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 17.57 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MLM. Loop Capital upped their target price 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. Morgan Stanley lowered their target price on Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. UBS Group assumed coverage on Martin Marietta Materials in a report on Thursday, November 7th. They issued a "buy" rating and a $730.00 price objective on the stock. Barclays lifted their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an "overweight" rating in a report on Tuesday, October 29th. Finally, Citigroup decreased their price target on shares of Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $648.71.

Martin Marietta Materials Company 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.